Physical and chemical properties of iron oxide-carbon composites prepared from tar-impregnated limonite ores have been studied in detail. When as-received limonite is heated up to 500℃, the pore size distribution for the resulting sample shows a single peak at the pore diameter of about 2 nm, and total pore volume and specific surface area increase from the original 0.15 cm^3/g and 80 m^2/g to 0.25 cm^3/g and 110 m^2/g, respectively. With the composite produced, on the other hand, the 2 nm-peak described above disappears almost completely, and the volume and area become as low as <0.01 cm^3/g and 1 m^2/g, respectively. The evolution of CO, CO_2 or H_2O from composite samples during heat treatment starts at about 500℃, and the rate profile of each O-containing gas observed exhibits the main peak around 800℃ in every case. The rates of reduction of the composites are much larger than that for the physical mixture of the limonite preheated up to 500℃ and cake.