The xenoliths in host rocks of hydrothermal gold deposits can generally provide much geochemical information of the deep rocks, which may have an implication for the sources of ore-forming materials. Geochronology and geochemical characteristics are reported for a granite xenolith, which is enclosed by the lamprophyre in the Zhenyuan gold deposit (Yunnan Province, SW China). This granite xenolith mainly consists of K-feldspar, quartz, and plagioclase with trace amounts of magnetite, titanite, apatite, zircon, and sulfides. Zircons from the granite xenolith yield a weighted average U-Pb age of 281.1 ± 1.3 Ma (MSWD = 2.1), which could represent the crystallization age of this granite xenolith. The Ti-in-zircon geothermometer and the Mn concentration in apatite calculate that this granite xenolith formed at 685 ± 43°C with the logfO2 values ranging from NNO + 3.7 to NNO + 6.4. The zircons in the granite xenolith have a restricted range of positive εHf(t) values ranging from +9.4 to +10.8, and the corresponding Hf TDM2 model ages range from 588 to 678 Ma. The zircon U-Pb age and the Hf isotopic compositions indicate this granite xenolith within the lamprophyre is mainly derived from partial melting of juvenile crustal rocks before the completed closure of the Ailaoshan Ocean. The pyrites in the granite xenolith have higher Bi concentrations, and lower As, Sb, and Tl concentrations than the gold-bearing pyrites of the ores in the Zhenyuan gold deposit. The low Au concentrations of the pyrites together with the ore-forming age of the Zhenyuan gold deposit (Oligocene) indicate the granite xenolith may have limited contribution to the gold mineralization of the Zhenyuan gold deposit.