Are you hunting for some ASX 200 shares to buy with the potential to generate big returns?

If you are, then it could be worth checking out the two listed below that brokers named as buys and are tipping to rise at least 20%.

Here's what they are saying about these shares:

Champion Iron Ltd (ASX: CIA)

The team at Macquarie thinks that this Canada-based iron ore miner could be an ASX 200 share to buy.

In response to the miner's FY 2025 results, the broker has reaffirmed its outperform rating and $6.10 price target on its shares.

Based on its current share price of $4.33, this implies potential upside of 41% over the next 12 months. In addition, a 3.5% dividend yield is expected in FY 2026, boosting the total potential return to almost 45%.

Macquarie is positive on the company partly due to its DRPF project. It said:

Outperform: The result was in line on a P&L level and net-debt level, with the flat dividend HoH a surprise for us as the 2H payout ratio was increased. The DRPF project, which is consuming cash during construction, is due to complete at the end of CY25 and will deliver higher premiums, in our view.

Web Travel Group Ltd (ASX: WEB)

Another ASX 200 share that has been tipped to deliver big returns is business to business travel company Web Travel.

Goldman Sachs is a fan of the WebBeds owner and put a buy rating and $7.10 price target on its shares last week. This suggests that its shares could rise 40% between now and this time next year. A dividend yield of approximately 2% is expected in FY 2026, lifting the total potential return to 42%.

The broker was impressed with the company's better than expected full year results and believes it is onwards and upwards from here. It explains:

WEB held its FY25 results on 27th May 2025, with TTV at A$4.9B +22% YoY (~-2% vs GSe and VA cons), Revenue +1% YoY (+1% vs GSe) and EBITDA of A$121m with 1H25 guidance of A$117-122m. Mgmt also noted first 8wks of FY26 trading was strong, with TTV (in EUR)/bookings up 28%/29% YoY, supported by +36% Americas region.

WEB is trading on FY27e PE of 15x vs FY25-28e EPS CAGR of 25%, implying attractive 0.6x PEG. Remain Buy rated with a new TP of A$7.1 (prev A$7.0), implying +35% TSR.