Large dumps of iron ore tailings threaten safety and eco-environment. Based on the current studies of iron ore tailings recovery, this paper presents a new plan to recover the iron ore tailings according to their chemical components and particle size distribution, first to re-grind and re-process the Si-high iron ore tailings ( the first tailings) to produce iron ore concentrates, and then to screen the remains (the second tailings) with the coarse above 0.25mm as commercial sands and with the fines processed by liquid alkaline wet activation and solid alkaline slag drying to produce silica-bearing fertilizer. This paper also analyzes their market benefits of iron ore concentrates, commercial sands and silica-bearing fertilizer, aiming at a 100% progressive recovery of iron ore tailings.