The migration and transformation of low-content heavy metals during the magnetization roasting of refractory iron tailings are key factors affecting the quality of magnetite concentrate and the comprehensive utilization of tailings. In this paper，Dabaoshan iron tailings was studied with municipal sludge of different consumption as a reducing agent and in combination of study methods such as BCＲ sequential extraction and SEM-Mapping elemental distribution，to systematically investigate the evolution of occurrence states and migration behaviors of Cu，Zn，and Pb during magnetization roasting. The results show that in the raw ore，Cu，Zn，and Pb primarily are hoisting in limonite through isomorphic substitution and encapsulated intergrowth. During magnetization roasting，heavy metals undergo multi-path migration and transformation into sulfide phases，iron and its oxide phases，fayalite，and gangue phases.Cu migrates to magnetite as limonite is reduced;Zn reacts with quartz to form iron silicate，stablizing within the gangue phase; Pb migrates to iron and gangue phases following the decomposition of drugmanite and carminite.The consumption of the reducing agent influences the migration path.When the dosage exceeds 25%，over-reduction intensifies，inhibiting sulfide path and causing more heavy metals to migrate to the fayalite phase. In subsequent separation processes，flotation can enrich heavy metals in sulfide phases，with enrichment factors of Cu，Zn，and Pb reaching 1.4，2.2，and 3.7，respectively. Magnetic separation efficiency is affected by the magnetic properties of fayalite. When the sludge dosage is 30%，the removal rates of Cu，Zn，and Pb increased to 20.55%，48.08%，and 47.84%，respectively. The findings of this study can provide a theoretical basis for optimizing the collaborative process of“desulfurization，impurity removal， and iron extraction”in refractory iron tailings.