This paper reports the chemical properties of iron picrate synthesized by two different methods. Differential scanning calorimetry analysis shows the decomposition of iron picrate starts at a lower temperature than that of picric acid, and the heat of exothermic reaction for iron picrate was less than that of picric acid. The iron ion valence in iron picrate that is synthesized by the method of this study is Fe2+. The results of elemental analysis and thermogravimetry show that the hydrate of iron picrate is hexahydrate to octahydrate. Dehydration of combined H20 occurs between 300 - 400 K. Iron picrate is synthesized not only by the reaction of other picrate with iron salt, but also by the reaction of picric acid solution with iron powder.