In this study, we demonstrated the effective degradation of wide-spectrum antibiotic chloramphenicol (CAP) by Fe3O4/peroxymonosulfate (PMS) system modified by gallic acid (GA). GA/Fe3O4/PMS showed a substantially higher degradation rate (77.6%) than Fe3O4/PMS (8.3%). The active components were detected by electron spin-resonance spectroscopy (ESR) and the quenching experiments. The results showed that the hydroxyl radical (HO•) was the main reason for the degradation of CAP. In the GA/Fe3O4/PMS system, the trace amount of dissolved iron ion were not the main species that activated PMS. Surface characterization and theoretical simulations showed that Fe atoms on Fe3O4 were responsible for PMS activation rather than a homogenous reaction. Five probable CAP degradation pathways were identified by density functional theory (DFT) calculations and liquid-phase mass spectrometry. Finally, the reusability of Fe3O4 was measured, and the GA/Fe3O4/PMS system maintained high efficiency after 5 times applications. The total organic carbon (TOC) removal rate reached 46.5% after reacting for 12 h. The gallic acid effectively promotes the circulation of Fe(II)/Fe(III) on solid surfaces and enhanced the degradation capacity of the original system. The research proposed a new way of directly employing plant polyphenols to boost the degradation ability of contaminants in heterogeneous systems.