Luziyuan Pb-Zn deposit in, Zhenkang Town, Yunnan Province is asuper-large polymetallic de- posit discovered in recent years. The ore body mainly occurs in Upper Cambrian Shahechang formation and is controlled by NE faults and the associated sub-structures. Spatially, the ore bodies are plunged and distributed in equal distance. Wall rock alterations are developed. Mineralization is dived into meso-epi- thermal stage and mesothermal-high temperature stage. Where marblization, skarnization, pyritization, silicification are developed and overprinted mineralization is strong. Ore materials are mainly derived from the ore-bearing strata and the deeply seated intrusive body. Based on study on lithologies of ore-bearing strata, the ore-control fracture, wall rock alteration and the ore fabric, the deposit is related to multi- staged tectonic movement and magmatic hydrothermal fluid and is a hydrothermal-skarn type Pb-Zn-Fe polymetallic deposit.