Using Si-Mo bar as heater and doping Fe2O3 in LiTaO3, Fe∶LiTaO3 crystal was grown by Czochralski method. The curie temperature of the crystal was measured by thermal analyze method. The lattice constants of the crystal were calculated by measuring of X-ray spectra. The response time, exponential gain coefficient and diffraction efficiency of Fe:LiTaO3 were obtained by two wave coupled technique. Compared with Fe∶LiNbO3, the response time of Fe:LiTaO3 is six times shorter, the storage time of Fe:LiTaO3 is ten times longer and the photo scattering resistance ability of Fe:LiTaO3 is four times higher. Fe:LiTaO3 is an excellent holographic storage material.