To reveal the hydrothermal evolution from porphyry Mo to vein-style Zn-Pb mineralization, the Chalukou deposit in NE China with these two typical mineralization overprinted is selected for detailed research. From early to late hydrothermal veins, the quartz cathodoluminescence intensities change from bright to dark and the textures also evolve. The Ti concentrations of quartz in these veins change from high to moderate and then to low values. The fluid inclusion petrography, microthermometry and stable isotope analyses indicate intermediate-density magma-derived fluids (δ18Owater = +4.7 to + 6.2‰, δD = −132 to −136‰) exsolved at high temperatures (560° to 600 °C) with low to moderate salinity (2.4 to 8.0 wt% NaCl equiv) containing minor CO2 (<5.7 mol %). Early minor molybdenite occurred under lithostatic conditions at high temperatures (540° to 580 °C) during fluids pH change and early magnetite precipitation. Later main molybdenite precipitation at moderate temperatures (350° to 430 °C), result from fluid cooling and involving of meteoric water under the transition from lithostatic to hydrostatic conditions. The precipitation of pyrite in transitional veins at moderate temperatures (330° to 420 °C), and the late sphalerite-galena from a lower-temperature fluid (180° to 300 °C) is consistent with the cooling of magmatic fluid, and gradually dilution with meteoric water under hydrostatic conditions. It is deduced the transition from porphyry Mo to vein-style Zn-Pb mineralization is likely driven by progressive decrease in temperature of the magmatic fluids and the increasing influx of meteoric water.