The Marhegda Bed is a carbonate-dominated Uthostratigraphic unit occurring locally at base of the Middle-Late Jurassic organic-rich sequence of the Agardhfjellet Formation in Spitsbergen, Svalbard. It has been interpreted to represent oolitic limestone facies deposited during an initial stage of Late Jurassic transgression. Petrographic, major element geochemical, and stable carbon and oxygen isotopic data presented in this paper indicate that this litho-stratigraphic unit is not a depositional limestone, but a diagenetic cementstone band originated in organic-rich sediment containing glauconite pellets and phosphatic ooids and grains. Two episodes of carbonate diagenesis, including early precipitation of siderite and burial precipitation of ankerite, have contributed to the development of this cementstone. Extensive siderite precipitation occurred at sedimentary temperatures in nearsurface suboxic environment in which microbial reduction of ferric iron was the dominant diagenetic process. Precipitation of ankerite occurred at temperatures of about 80-100°C in burial diagenetic environment overwhelmed by thermal decarboxylation processes. Formation of ankerite was associated with advanced alteration of glauconite, dissolution of apatite and precipitation of kaolinite.