Abstract: Houfangzi graphite deposit is located in the middle of the graphite metallogenic belt in the northern margin of North China Block in Hebei Province, which belongs to regional metamorphic type graphite deposit. In this paper, through rock-mineral determination, IP ladder sections and exploratory trench survey, the authors have discussed its metallogenic geological characteristics and ore body characteristics, and analyzed its ore genesis. The research results show that the ore bodies are mainly in the graphitic marble of Dongjingzi Formation of Hongqiyingzi Group, which are stratified and controlled by layers, with NE trend and NNW inclination. The IP anomaly shows that Houfangzi graphite deposit is characterized by low resistance and high polarization. Ore bodies are stable and of big scale, and their fixed carbon content ranges from 1.42% to 3.28%, which has the potential to be a large graphite deposit. The ore-forming material came from granulite and graphite marble, while the regional metamorphism is the main mineralization of Houfangzi graphite deposit, with the enrichment and increasement caused by late magmatic activity and migmatization.