The　effect　of　Fe2O3　on　retained　aluminum　in　deposited　metal,　mechanical　properties　and　fracture　analysis　has　been　elucidated.　The　results　show　that　with　the　increasing　of　Fe2O3　in　the　flux　core,　the　melting　point　of　the　pretreated　compounds,　the　content　of　retained　aluminum　in　deposited　metal,　the　size　and　the　number　of　inclusion,　yield　strength　and　tensile　strength　decrease,　while　the　toughness　of　the　deposited　metal　and　the　dimple　proportion　of　the　fracture　increase.　The　inclusions　in　the　weld　are　Ba,Ca,Al,Mg　in　round　and　rectangular　form　predominantly.　However,　electrode　with　the　Fe2O3　content　exceeding　4.5%　is　extremely　sensitive　to　voltage　and　macro-porosity　can　be　found　in　the　weld　metal.　So,　in　the　view　of　the　processing　properties　and　the　mechanical　properties,　the　range　of　2.5-3.5　percent　by　weight　of　core　to　electrode　is　preferred.