The Gangdese magmatic belt formed during Late Triassic to Neogene in the southernmost Lhasa terrane of the Tibetan plateau. It is interpreted as a major component of a continental margin related to the northward subduction of the Neo-Tethys oceanic slab beneath Eurasia and it is the key in understanding the tectonic framework of southern Tibet prior to the India-Eurasia collision. It is widely accepted that northward subduction of the Neo-Tethys oceanic crust formed the Gangdese magmatic belt, but the occurrence of Late Triassic magmatism and the detailed tectonic evolution of southern Tibet are still debated. This work presents new zircon U-Pb-Hf isotope data and whole-rock geochemical compositions of a mylonitic granite pluton in the central Gangdese belt, southern Tibet. Zircon U-Pb dating from two representative samples yields consistent ages of 225.3±1.8 Ma and 229.9±1.5 Ma, respectively, indicating that the granite pluton was formed during the early phase of Late Triassic instead of Early Eocene (47–52 Ma) as previously suggested. Geochemically, the mylonitic granite pluton has a sub-alkaline composition and low-medium K calc-alkaline affinities and it can be defined as an I-type granite with metaluminous features (A/CNK<1.1). The analyzed samples are characterized by strong enrichments of LREE and pronounced depletions of Nb, Ta and Ti, suggesting that the granite was generated in an island-arc setting. However, the use of tectonic discrimination diagrams indicates a continental arc setting. Zircon Lu-Hf isotopes indicate that the granite has highly positive εHf(t) values ranging from +13.91 to +15.54 (mean value +14.79), reflecting the input of depleted mantle material during its magmatic evolution, consistent with Mg# numbers. Additionally, the studied samples also reveal relatively young Hf two-stage model ages ranging from 238 Ma to 342 Ma (mean value 292 Ma), suggesting that the pluton was derived from partial melting of juvenile crust. Geochemical discrimination diagrams also suggest that the granite was derived from partial melting of the mafic lower crust. Taking into account both the spatial and temporal distribution of the mylonitic granite, its geochemical fingerprints as well as previous studies, we propose that the northward subduction of the Neo-Tethys oceanic slab beneath the Lhasa terrane had already commenced in Late Triassic (~230 Ma), and that the Late Triassic magmatic events were formed in an active continental margin that subsequently evolved into the numerous sub-terranes, paleo-island-arcs and multiple collision phases that form the present southern Tibet.