The study of Late Cretaceous magmatic rocks, developed as a result of magmatism and related porphyry mineralization in the northern Lhasa block, is of significance for understanding the associated tectonic setting and mineralization. This paper reports zircon chronology, zircon Hf isotope data, whole-rock Sr–Nd isotope data, and geochemistry data of Balazha porphyry ores in the northern Lhasa block. Geochemical features show that Balazha ore-bearing porphyries in the northern Lhasa block belong to high-Mg# adakitic rocks with a formation age of ~90 Ma; this is consistent with the Late Cretaceous magmatic activity that occurred at around 90 Ma in the region. The age of adakitic rocks is similar to the molybdenite Re–Os model age of the ore-bearing porphyries in the northern Lhasa block, indicating that the diagenesis and mineralization of both occurred during the same magmatism event in the Late Cretaceous. The Hf and Sr–Nd isotope data indicate that these magmatic rocks are the product of crust–mantle mixing. Differing proportions of materials involved in such an event form different types of medium-acid rocks, including ore-bearing porphyries. Based on regional studies, it has been proposed that Late Cretaceous magmatism and porphyry mineralization in the northern Lhasa block occurred during collision between the Lhasa and Qiangtang blocks.