A vertical ring high gradient magnetic separator comprises an exciting winding coil and a coil casing, wherein the winding coil is immerged in coolant in the coil casing, the winding coil is of a multi-layer structure, and an insulating member is provided between each layer or a plurality of layers of the winding coil to form gaps through which the coolant passes. The winding coil of the vertical ring high gradient magnetic separator has a rapid heat dissipation capability in the coolant, which can ensure the winding coil maintaining a lower temperature during operation, thereby obtaining a higher magnetic field strength.