Abstract: The leader-follower alliance on international iron ore market was studied from the revenue-sharing angle. The profit models of the leader, follower and alliance itself were developed, and the profit sharing between the leader and follower was analyzed through Stackelberg game. Discussing the revenue-sharing proportion, order quantity and wholesale price, the game coordination strategies between leader and follower were presented respectively in decentralized and centralized patterns. Numerical simulation showed the result of the game in alliance mode on the iron ore market and indicated that the profit of alliance in centralized pattern was higher than that in decentralized pattern, i.e., shared by the leader and follower respectively.