PURPOSE: To obtain a resin having sufficient resistance even in a strong acidic solution by forming the magnetic material of a chelating ion exchange resin from strontium ferrite or barium ferrite.

CONSTITUTION: Phenols having a chelating functional group, phenols having no chelating functional group and aldehydes are subjected to polycondensation to obtain an precondensate. A magnetic material such as strontium ferrite or barium ferrite is dispersed in the precondensate and a dispersant is contained in the precondensate or an org. solvent to form a globular chelate resin having magnetic properties. The resin thus obtained has sufficient resistance even in a strong acidic solution and shows a fast treatment speed.