A process for producing acicular ferromagnetic iron oxide particles comprising crystalline particles having an aspect ratio not lower than 4, a saturation magnetization of more than 90 emu/g, expressed by the formula of FeO.sub.x, wherein, and modified with 2 to 15 atomic percent by weight zinc ions as expressed as Zn/Fe, which comprises the step of oxidizing a particulate acicular magnetic iron oxide, which comprises a particulate crystal expressed by the formula of FeOx, wherein, and modified with 2 to 15 atomic percent by weight zinc ions as expressed as Zn/Fe, at a temperature of 50.degree. to 250.degree. C.