The invention discloses a method for preparing iron oxide red from a titanium dioxide byproduct ferrous sulfate, a product and application of the product, and belongs to the technical field of magnetic materials. The method comprises the following steps: S101, purification and impurity removal; S102, oxidation synthesis; and S103, roasting, crushing and screening, wherein a silicon removal agent adopted for purification and impurity removal is a compound of polyferric sulfate, cationic guar gum and sodium alginate. According to the invention, by reasonably matching a plurality of inorganic andorganic high-molecular polymers, the coagulating sedimentation effect, the electric neutralization capability and the bridge frame adsorption effect of the silicon removal agent are fully exerted, the silicon impurity in ferrous sulfate is effectively removed, the feeding speed of a ferrous sulfate solution and an alkaline solution is accurately controlled in the oxidation synthesis process, hydrated iron oxide precipitate which is good in consistency, easy to filter and wash and high in activity is obtained, and an iron oxide red product high in purity and good in performance is successfullyprepared by further setting a reasonable roasting system.