As a kind of large metallurgy equipment, liquid iron tank was used more widely. This paper took 130t liquid iron tank as an example. Three dimensions solid model of liquid iron tank lifting lug was constructed by ANSYS software in this paper. Grid division, restriction, load and strength finite element analysis were also made on relevant computation model. The relevant equivalent stress distribution rule of liquid iron tank lifting lug was found. The position of maximum equivalent stress was found. Liquid iron tank lifting lug can satisfy the use demand under slow lifting up working condition was proved. This analysis provides a practical and effective research method for research the strength and reliability of liquid iron tank. It also provides a theory base for corporation to recast and design liquid iron tank.