Qibaoshan Cu-ploymetallic deposit of Liuyang, Hunan province, is occurred in the southwest section of Qinzhou-Hangzhou metallogenic belt. The slight right-dip model of REE and slight Eu negative anomaly considers that the source of magma is partly from the mantle. However, clear Sr negative anomaly is so similar to the crustal source magma. Higher Al₂O₃/TiO₂, K₂O/Na₂O ratio than ordinary granite is indicated that quartz porphyry is mainly coming from the crust. The quartz-porphyry may be the crust-mantle syntectic granite. The ore bodies are so close with the quartz-porphyry which is rich in ore-forming elements in space and timing is indicated that the magma may provide the metals. The process is that the magma carries ore-forming elements from the mantle to the near surface, then mineralization after filling or metasomatism in a variety of structure.