A series of magnesium-aluminum-silicon based glass-ceramics doped with Fe2O3 were prepared by using a high-temperature melting controlled-crystallization method, and the effect of Fe2O3 doping on the structure and performance of the prepared samples was investigated. The obtained results showed that the introduction of Fe2O3 into the MgO–Al2O3–SiO2–B2O3 (MASB) glass samples reduced the crystallization peak temperature, resulting in decreased glass stability. After crystallization, a single α-cordierite crystal phase was precipitated from the MASB glass, and the mechanical strength of the prepared samples clearly increased after Fe2O3 doping. A comparation of the current results with those of our previous works indicated that Fe2O3 doping can provide a single phase and neat micro-morphology of glass-ceramics, and thus it can be applied to the fluorescent material of the light conversion layer of white light-emitting diode (LED) devices.