The Parnaíba Basin Devonian deposits comprise ironstones and organic-rich sediments deposited in an epeiric sea margin under greenhouse conditions, enhanced weathering, reduction of oceanic circulation, and black shale deposition. This study aims to contribute to the understanding of the interrelation between depositional and shallow diagenetic processes of the Devonian units of the Parnaíba Basin, specifically regarding the genesis of iron minerals that constitute the ooidal ironstones of the Itaim and Pimenteiras formations. These units comprise bioturbated heterolites, ooidal ironstones, intraclastic conglomerates, and shales, deposited in a deltaic to neritic, storm-dominated platform. This research investigates drill cores from two wells in the southern part of the Parnaiba Basin, focusing on depositional and diagenetic processes. The proposed model suggests deposition of sediments originally rich in organic matter, under low siliciclastic input, and initially anoxic, transgressive conditions. Under these conditions, ferroan precursor clays were deposited, alternating with periods of reworking by storm currents, generating concentric ooids of berthierine. Bioturbation processes resulted in the concentration of previously formed berthierine ooids during intervals of low sedimentation rates. Eodiagenetic microcrystalline siderite formed along the redox boundary between oxic/bioturbated and anoxic zones. Chamosite formed by partial transformation of berthierine, upon incipient mesodiagenetic evolution of the ooidal ironstones. This study contributes to the understanding of depositional and diagenetic conditions in the Devonian section of the Parnaíba Basin, and of similar deposits, offering insights into the formation and development of berthierine ooids under the influence of sea level fluctuations, oxic/anoxic conditions, sedimentation rate, and bioturbation in sedimentary environments, providing key insights into the paleoenvironmental conditions along the northern Gondwana margin during this period.