An insulation cover for iron comprises a bag-shaped body for containing the iron; the body is provided with an opening which is used as an entrance for the iron; the opening of the body is provided with a zip-fastener for closing the opening; the body is provided with a hanger. After the iron being placed into the body via the opening, zip up the opening, then the iron is covered inside the insulation cover and thus it can be placed on a horizontal surface directly; or be hanged with the cover by the hanger.