As the main binder in pellet ore production，bentonite is mainly composed of gangue minerals such as SiO₂ and Al ₂O₃ ，and its large amount of combination will reduce the iron grade of pellets and increase the cost and fuel consumption of blast furnace ironmaking. Therefore，there is an urgent need to develop new binders to partially or completely replace bentonite and reduce the amount of bentonite in pellet production. In this paper，a composite binder pellet is prepared by using M binder，and a composite binder pellet is prepared by optimized preheating and roasting system，and the mineral composition and microstructure of the composite binder pellets are analyzed by XRD，optical microscopy and other detection methods，and the consolidation mechanism of the composite binder pellets is elucidated. The results show that the falling strength of the prepared fresh pellets is 4. 1 times/ （0. 5 m），the burst temperature is 460 ℃ ，and the compressive strength is 17. 43 N/ P under the optimal conditions of pelletizing time of 12 min， pelletizing moisture of 8. 0% ， preheating at 1 010 ℃ for 10 min and roasting at 1 220 ℃ for 10 min；After preheating and roasting， the compressive strength is significantly increased to 527 N/ P and 3 077 N/ P， respectively. Compared with 1% bentonite pellets， the amount of bentonite is reduced by 50% ，the pellet mass is significantly improved，the hematite content is higher，and the gangue content is reduced. The preheating and roasting process of the composite binder pellets mainly undergoes magnetite oxidation-hematite high-temperature recrystallization reaction，and the main minerals are hematite and a small amount of silicate and quartz. Compared with bentonite pellets，hematite recrystallization is stronger，the hematite area is larger，and there are fewer individual hematite grains. The consolidation method of composite binder pellets is mainly based on the recrystallization consolidation of Fe₂O3 ，supplemented by silicate liquid phase bonding，to form a uniform and dense pellet microstructure.