The physical characteristics of binding phase in fluorinebearing sinter at Baotou Steel were studied and the relationship between physical properties and binding phase’s composition was obtained. By adjusting the basicity and the content of MgO, CaF2 or FeO of binding phase, the melting characteristics and wetting angles of different binding phase to Fe3O4 were investigated. The results show that melting temperature and wetting angle increase with increase of basicity or MgO content while decrease with increase of CaF2 or FeO content.