Our understanding of the processes driving the patterns of dissolved iron (DFe) in the ocean interior, either in observations or models, is complicated by the combined influences of subduction from the surface mixed layer, notable subsurface sources, regeneration, and scavenging loss. We describe a ventilation-based framework to quantify these processes in a global ocean biogeochemical model including diagnostics along potential density surfaces. There is a prevailing control of subsurface DFe by the subduction of surface DFe as preformed DFe augmented by benthic sources of DFe from hydrothermal activity and sediments. Unlike phosphate, there is often a first-order balance with a near cancelation between regeneration and scavenging with the remaining “net regeneration” controlled by the ventilation of surface excesses in Fe-binding ligands. This DFe framework provides a more stringent test of how the total DFe distribution is mechanistically controlled within a model and may be subsequently used to interpret observed DFe distributions.