Upon reverse flotation of iron ore, the surface of the iron ore concentrate may become partially hydrophobized due to adsorption of flotation collector, which is facilitated by the calcium ions present in the process water. Hydrophobic areas on the concentrate surface may introduce problems in subsequent pelletization of the concentrate. A possible way to restore the wettability of the surface could be by modifying the surface with a hydrophilic polymer. The effect of hydrophilic polymers of different types, viz. cationic, anionic, and non-ionic, on the wettability of the magnetite surface after adsorption of a surfactant was investigated. Although all the polymers could adsorb on magnetite at pH 8.5, the contact angle measurements revealed that only anionic ammonium polyacrylate could decrease the contact angle of synthetic magnetite after surfactant adsorption to a level close to that of as-synthesized magnetite. Such effect was probably achieved due to shielding of the hydrophobic surfactant chains from the aqueous phase by hydrophilic polyacrylate molecules. The fact that polyacrylate adsorption on magnetite occurred via calcium ions makes polyacrylate suitable for application in calcium-rich process water. The results presented in this work illustrate that ammonium polyacrylate could be successfully used to improve the wettability of magnetite after adsorption of surfactants.