Iron, as one of the essential mineral elements for algae growth, plays an extremely important role in the physiological processes such as plant photosynthesis, respiration, nitrogen fixation, protein and nucleic acid synthesis. In view of the fact that iron in different forms could be absorbed and utilized by algae, the existing forms and circulation approaches in the aquatic environment, the absorption mechanism by algae, and the effects on algae growth and microcystin synthesis were reviewed in this paper. The relevant microcystin synthesis genes and their expression under iron restricted conditions were summarized, and the research directions for harmful algal blooms regulation and control by ferritin genes were suggested. It was hoped to provide the reference for eutrophication remediation technology.