The initial results of the experimental study of a hydrothermal system including lanthanides (Ln) and Fe oxides (magnetite and hematite) are presented. Ln concentrations in solutions and crystals were determined by ICP-MS and LM-ICP-MS, accordingly. The Ln distribution and cocrystallization coefficients obtained are interpreted as the maximal estimates of “true” values corresponding to structurally bound admixture. It is shown that Ln (except for Eu) are the compatible elements in hydrothermal magnetite; heavy Ln (beginning with Tb) are compatible in hematite. The pronounced tendency of the elevation of both coefficients with the Ln atomic number beginning from Gd-Tb was established. This is significant for using the ratio of light and heavy Ln as a typochemical guide for localization of the source of ore elements. The high-Ln-containing phases in associations with magnetite and hematite were obtained. These phases have oxychloride (without Fe) and oxyhydroxide (with Fe) composition and demonstrate the example of co-locating light and heavy Ln in the common space of hydrothermal system due to mutual crystallization of the phases selectively accumulating light and heavy lanthanides.