Native maize starch was esterified using octenyl succinic anhydride (OSA) at four levels: 0%, 3%, 6%, 9% and, afterwards, enriched with iron ions. The aim of this work was to evaluate the effect of iron ion son the physicochemical properties of OSA starch. The modified starches were subjected to the following analysis: content of iron, water-binding capacity (WBC) and solubility in water (SW) at 50 and 60°C, colour parameters in the CIEL*a*b* system, emulsifying capacity, susceptibility to enzymatic hydrolysis with α-amylase. On the basis of the results it was determined that OSA starches modified using iron ions were characterised by similar values of SW and WBC, irrespective of OSA concentrations. Incorporation of iron ions to the OSA starches resulted in a decrease in brightness (L*), furthermore it caused an increase in the values of parameters a*and b*. Modification using iron ions resulted in a decrease of susceptibility to enzymatic hydrolysis as compared to non-modified OSA starches. Emulsion prepared with 6% OSA modified with iron was the most stable during storage among the analysed starch preparations.