The hydrogen reduction of the red-ox Fe/ZSM-5 zeolite is an essential step for catalyst preparation. In this letter, various adsorption modes of the H-2 molecules on the Fe(III)/ZSM-5 zeolite were first explored by density functional theory, with their exact configurations provided. The adsorption energies revealed that the two configurations with Fe(III) at the sextet states are the main ones, consistent with the results of inelastic neutron scattering (INS) experiments. On such basis, the vibrational and orbital analyses were made, which will be valuable for the future studies on the Fe/ZSM-5 systems.