The effects of SiO2 and MgOMgO on the hydrogenHydrogen reduction behavior of Fe2O3 were evaluated based on the reduction of briquettes composed of Fe2O3 and SiO2 or MgOMgO at 700 °C for 1 h in H2. It was demonstrated that compared with SiO2, MgOMgO exerted a more pronounced inhibitory effect on the reduction of Fe2O3. It was primarily associated with the formation of phases such as MgFe2O4 and Fe2SiO4. As the contents of SiO2 and MgOMgO increased from 1 wt% to 5 wt%, the reduction degreeReduction degree of the briquettes decreased from 99.02% and 98.88% to 98.01% and 96.07%, respectively. The iron metallization degree decreased from 96.94% and 96.79% to 91.90% and 93.58%, respectively. The total iron content decreased from 97.02 wt% and 96.34 wt% to 92.19 wt% and 92.19 wt%, respectively. The presence of no more than 3 wt% SiO2 and 2 wt% MgOMgO helped to reduce the swelling of the briquettes during their reduction process. However, this effect diminished when the contents of SiO2 and MgOMgO exceeded 3 wt% and 2 wt%, respectively.