The glass and glass ceramics containing SiO2-CaO-Fe2O3-P2O5 were prepared by sol-gel method. The influence of the Fe contents on the crystallization and local structure of the glass and glass ceramics was systematically investigated. The crystal structure of the glass ceramics was identified by XRD characterization. Hematite phase can be precipitated from the glass matrix in all glass ceramics with various Fe contents, and the crystallographic parameters of hematite were determined by XRD Rietveld refinement. The crystallization kinetics of the glasses was investigated in detail. Relative low activation energies were obtained at low Fe contents. The local structure evolution of the glass and glass ceramics has been studied in-depth by means of FTIR and Mossbauer spectroscopy. Fe element is present both as network former and network modifier which significantly influenced the crystallization activation energies of the glasses. The results of this work may be of great significance for the material design and practical applications of bioactive magnetic glass ceramics for hyperthermia.