The Jinchuan Ni-Cu-PGE deposit is the single largest magmatic Ni-sulfide deposit in the world, with three different hypotheses on its ore-forming processes (e.g., in-situ sulfide segregation of sulfide-bearing magma, deep segregation with multiple injections of magma, and hydrothermal superimposition) mainly based on study of whole-rock geochemistry and isotopes (e.g., S-Sr-Nd-Hf). In this study, we mainly concentrated on magnetite textural and geochemical characteristics from different sulfide ores to clarify the genetic types and geochemical difference of the Jinchuan magnetite, and to explore a new credible ore-forming process by magnetite formation process when combined with detailed deposit geology. Three types of magnetite from massive and disseminated sulfide ores were observed by different textural analysis, and they were shown to have different genetic types (mainly in geochemistry) and trace elemental features. Type I magnetite is subhedral to anhedral from massive Ni- (or Fe-) and Cu-rich sulfide ores, with apparent magmatic origin, whereas Type II (dendritic or laminar crystals) and III magnetite (granular crystals as disseminated structures) from disseminated Cu-rich sulfide ores may have precipitated from late stage of melts evolved from a primitive Fe-rich and sulfide-bearing system with magmatic origin, but their geochemistry being typical of hydrothermal magnetite, videlicet, depletions of Ti (< 20 ppm), Al (< 51 ppm), Zr (0.01-0.57 ppm), Hf (0.03-0.06 ppm), Nb (0.01-0.14 ppm), and Ta (0.01-0.21 ppm). Such different types of magnetite can be clearly distinguished from concentrations and ratios of their trace elements, such as Ti, V, Co, Ni, Zn, Zr, Sn, Ga, and Ni/Cr. Those different types of Jinchuan magnetite crystallized from (evolved) sulfide-bearing systems and their geochemistries in trace elements are controlled mainly by evolution of ore-related systems and geochemical parameters (e.g., T and fO(2)), with the former playing a predominant role. Combining the previous literature with this study, we propose that the Jinchuan deposit formed by multiple pluses of sulfide-bearing magma during fractional crystallization, with the emplacing of more fractionated and sulfide-bearing magma during sulfide segregation playing a predominant role. During this multiple emplacement and evolving of sulfide-bearing systems, Type I magmatic magnetite crystallized from primitive and evolved Fe-rich MSS (monosulfide solid solution), while Type II and III magnetite crystallized from evolved Fe-rich MSS to Cu-rich ISS (intermediate solid solution) during sulfide fractionation, with those Type II and III magnetite having much higher Cu contents compared with that of Type I magnetite.