Fougerite is a naturally occurring green rust, that is, a layered double hydroxide (LDH) containing iron (Fe). Fougerite was identified in natural settings such as hydromorphic soils. It is one of the few inorganic materials with large anion adsorption capacity that stems from the presence of isomorphic substitutions of Fe2+ by Fe3+ in its layers. The importance of anion adsorption in the interlayer of LDH has often been highlighted, but we are still missing a mechanistic understanding and a thermodynamic framework to predict the anion uptake by green rust. We combined laboratory and in operando synchrotron X-ray diffraction and scattering experiments with geochemical modeling to contribute to filling this gap. We showed that the overall exchange process in green rusts having nanometer and micrometer sizes can be seen as a simple anion exchange mechanism without dissolution–recrystallization or interstratification processes. A thermodynamic model of ion exchange, based on the Rothmund and Kornfeld convention, made it possible to predict the interlayer composition in a large range of conditions. This multiscale characterization can serve as a starting point for the building of robust and mechanistic geochemical models that will allow predicting the role of green rust on the geochemical cycle of ions, including nutrients, in soils.