Phenol pollution is widely environmental and health problems that require new insights and urgent attention. A iron-bearing catalyst (FRM/2%A) was prepared with red mud by HCl dissolution, ascorbic acid reducing and precipitation of filter liquor, and activated H2O2 to degrade the phenol in synthetic wastewater. Results show that FRM/2%A had the highest degradation efficiency (99.3 %) in the reaction time of 5 min among investigative samples, due to the production of ferrous polymetallic oxides on the catalyst and the formation of mesoscopic particles and microcellular structures. The optimal conditions were 1 g/L of catalyst dosage, 5 mM of H2O2 concentration, 3–6 of initial pH and 100 mg/L of initial concentration of phenol in the FRM/2%A/H2O2 system. The degradation data fit into the pseudo-first-order kinetics model and the reaction rate constant (k) of FRM/2%A was 0.865 min−1. The removal efficiency (77 %) of COD below the value (99.3 %) of phenol degradation implied the intermediates generating during the phenol degradation. The possible degradation pathway was proposed as phenol → catechol → benzoquinone → muconic acid → small molecular organic acids → CO2 and H2O. The findings suggested a new way for the synthesis of the efficient catalyst with RM and optimal operating strategies for the treatment of phenol wastewater.