Ferroptosis, a type of non-apoptotic cell death discovered in recent years, plays an important role in the development of tumors. Many studies have shown that hematological malignant tumors, such as leukemia and lymphoma, are sensitive to ferroptosis. Moreover, regulation of the ferroptosis pathway can accelerate or inhibit the disease progression of tumors. Herein, the mechanism of ferroptosis and current research examining its involvement in hematological malignant tumors are reviewed to provide a reference for future research and treatment of ferroptosis in hematological tumors.