The invention relates to an iron ore concentrate oxidized pellet production process which comprises the following steps: drying and pretreating sorted iron ore concentrates; mixing the dried and pretreated iron ore concentrates to form a mixture; feeding the mixture into a pelletizer to form crude pellets having a diameter of 8-16 mm; drying and preheating the crude pellets; roasting the preheated crude pellets; and cooling the roasted pellets through an annular cooler to obtain finished pellets. According to the invention, a vertical mill is used to integrate drying, milling and material neutralization of the iron ore concentrate raw materials, so that a cylindrical drier and pretreatment equipment used in the traditional production process are substituted, thereby simplifying the process flow, saving the occupied area and improving the production efficiency.