Objective To compare the chemical composition of Auricularia auricula polysaccharide and the colloid, and the property of the different component-Fe complex. Method Auricularia auricula polysaccharide and the colloid were prepared first, then Auricularia auricula polysaccharide iron complex (APIC)and Aurcularia auricula glia iron complex (AGIC) were synthesized respectively with FeCl3 under alkaline condition, and their physicochemical property was determined. Results The stablility of AGIC was better than APIC and AGIC could be reduced to Fe(Ⅱ)by ascorbic acid more easily. Conclusion The Auricularia auricula colloid could combine with Fe(Ⅲ)easier than the polysaccharide, and would be expected to become a higher bioavailable iron-supplement.