Based on field geological investigation, this paper studied the whole rock petrochemistry, LA ICP MS zircon U Pb dating, and in situ zircon Hf isotopic geochemistry, for the granodiorite in the Shuikoushan Pb—Zn deposit to better constrain its formation mechanism. The granodiorite study shows that it is characterized by high potassium, rich alkali, enrichment in light rare earth elements (LREEs) and large ion lithophiles elements (LILEs, Rb, Th,U) and Pb, deficited in heavy rare earth elements (HREEs) and high field strength elements (HFSFs, Nb, Ta, Ti) and Sr, Ba. LA ICP MS zircon U Pb dating yielded weighted average age of 156.0 ± 1.0 Ma (MSWD = 0.33，2σ，N = 20)，which is belong to the early Yanshanian product. In situ zircon Hf isotope analysis indicates that the granodiorite has low εHf (t) values (-10.78 to -8.71), and old Hf model ages TCDM (1.75 to 1.88 Ga). These isotopic compositions suggest that the granodiorite magma source mainly came from the lower crust in the Paleoproterozoic. During the early Yanshanian, the lithosphere in southeastern China was overall tensional and thinning, causing mantle upwelling and basaltic magma underplating. With a large scale crustal substances melting, the magma derived from the lower crust intruded along the deep fault, and ultimately emplaced in the near curst surface, formed the granodiorite in the Shuikoushan Pb—Zn deposit.