In view of the problem that the addition of bentonite alone will reduce the grade of pellets, while the addition of composite binder alone will increase the production cost, the effect of mixing the two on the performance of pellets is studied, and it is found that the performance of pellets with composite binders is significantly better than that of single binders, and when 1.5% bentonite is mixed with 0.5% composite binder, the comprehensive performance of pellets is the best. At this time, the falling strength of the fresh pellet is 6.1 times per 0.5 m, the compressive strength is 6.6 N/P, the compressive strength of the finished pellet is 3 043 N/P, the reduction degree is 79.51%, the reduction expansion rate is 1.92%, and the w(TFe) loss is less 2.43%. The composite binder has the advantages of both bentonite and composite binder, which not only can promote the bonding of mineral powder in the pelletizing section, decompose the preheating roasting section to produce micropores, but also promote the reaction in the reduction section, which can significantly improve the metallurgical properties of the pellets and reduce the loss of TFe grade.