The extraction of iron(III) from chloride solutions at macrolevel concentration by different solvents such as tri-n-butyl phosphate (TBP), di(2-ethylhexyl) phosphoric acid (D2EHPA), and their mixture in various proportions has been investigated at different acid concentrations. The synergistic extraction of iron(III) with a mixture of TBP and D2EHPA was studied and the results were compared with that of the extraction by individual solvent alone. An increase in the concentration of the synergist, TBP, in the D2EHPA-TBP solvent system resulted in an increase in the synergistic coefficient value. The experimental data are treated graphically to explain the formation of organic phase extracted species, and the equilibrium extraction constants for the species are determined. It is found that a maximum of two molecules of TBP are adducted to the extracted species of the corresponding nonsynergistic system. Stripping of iron(III) with hydrochloric acid from loaded D2EHPA was found to increase with an increase in acid concentration. In the case of D2EHPA-TBP mixtures, stripping efficiency was increased with an increase in acid concentration up to a certain level and then it was decreased. The experimental results indicate that an iron exchange reaction between loaded D2EHPA and TBP proceeds during stripping at a higher concentration of hydrochloric acid (from mixed loaded solvent system). A plausible mechanism for iron(III) extraction and stripping has been discussed.