Iron hollow spheres (IHSs) were manufactured by the reduction of iron oxides. The compressive deformation behavior and structures of IHS were systematically investigated. The strength of IHSs is proportional to the product of the IHS diameter and the shell thickness of IHSs, and is equivalent to the buckling strength of the IHS structure. A plateau stress region is observed during the compression of the IHS structure. The plateau stress is proportional to the strength of IHSs. The bonding of IHSs is indispensable to the occurrence of the plateau stress region. The average plateau stress does not depend on the distribution of the IHS strength but depends on the average IHS strength. The plateau stress decreases in the inclined compression of the IHS structure. The plateau stress increases with an increase in the strain rate during the compression. Its increasing ratio is larger than that of the porous aluminum.