Iron (Fe) is an essential micronutrient, required for plant development and growth, severing as a cofactor for several metalloproteins or a component of electron transport chains, playing a major role in photosynthesis, respiration, and so on. Iron deficiency severely affects crop yield and nutritional quality of plants. Although iron is quite abundant on Earth, much of it is not accessible to plants due to its poor solubility in neutral to alkaline soils, where iron is mainly present as ferric iron, thus leading to plant suffering from iron deficiency. By contrast, plants will accumulate excess iron under low pH or long-term water logging conditions, which will result in the generation of reaction oxygen species, harmful to plants even death. Thus, tightly maintaining iron homeostasis is essential for optimal growth and development in plants. In this review, we summarized the latest research progresses in the regulation of iron homeostasis in strategy I plants and discussed what remain to be addressed at the moment as well as the perspective in the future.