The Panhe molybdenum ore deposit is located in EW-trending Luoyuan-Shimen-Machaoying and Tieluzi-Heigou-Luanchuan faulted zones of North Qinling along the collage subduction belt between North China plate and Yangtze plate, some 10 km from the Mangling intrusive body. It consists of stratoid and stratiform ore bodies covered by greenshist of upper Kuanping Group in Proterozoic Changcheng System. Ore bodies occur along the interlayer contact zone between epimetamorphic greenschist and skarnized marble in lower Kuanping Group. Based on geological, ore body and wall rock alteration characteristics in the ore district, this paper has made a tentative discussion on the genesis of the ore deposit as well as the ore-control factors.