Hematite pellets are the main raw material for ironmaking, prepared from hematite concentrate, a small amount of bentonite, and water. In this study, microwave drying kinetics of hematite pellets was investigated based on effects of initial mass, microwave power and pellet size during the drying process. The results showed the average drying rate was positively correlated with the initial mass from 50 g to 80 g. It increased when the microwave power increased from 600 W to 1000 W. It decreased from 0.0140 g/s (10–12 mm) to 0.0126 g/s (14–16 mm). The process consisted of three stages controlled by external diffusion, internal diffusion, and chemical reaction. The Verma model was the most suitable for describing the process. The effective diffusion coefficient of moisture ranged from 6.61 × 10−7 m2/s to 9.98 × 10−7 m2/s. The corresponding activation energy of microwave drying was 2.83 W/g, 85 % lower than that of hot air drying (19.24 W/g).