The Jinqu Au deposit, located in central Xiaoqinling gold field along the North China Craton’s southern margin, has total reserve of 21 t of Au with 4.23 g/t Au on average. It consists cccmainly of ore-bearing auriferous quartz veins in amphibolite facies metamorphic rocks of the Archean Taihua Group. The deposit’s mineral paragenesis and ore-forming processes have never been studied. This paper reports its mineral paragenesis, which includes sulfides (pyrite, galena, chalcopyrite, pyrrhotite, sphalerite, molybdenite and bornite), oxides (rutile, scheelite, hematite, magnetite), tellurides (sylvanite [(Au, Ag)2Te4], hessite [Ag2Te], petzite [Ag3AuTe2], krennerite [Au3AgTe8], calaverite [AuTe2], stützite [Ag5−xTe3], empressite [AgTe], rucklidgeite [(Pb, Bi)3Te4], altaite [PbTe], volynskite [AgBiTe2], tetradymite [Bi2Te2S], lingbaoite (AgTe3) and melonite [NiTe2]) and native elements (tellurium and gold). Based on our data, the associated ore-forming processes can be deduced as: iron oxides → (CO2(g) and H2S(g) loss, ƒTe2/ƒS2 ratio increase) sulfides, Au-Ag-tellurides → (condensation of H2Te vapor) Pb-Bi-tellurides → (mixing with meteoric water) carbonate. It has been indicated by thermodynamic modelling that formation of Au-Ag-Te-bearing minerals occurred under physico-chemical conditions of logƒTe2 values from −7.28 to −3.21, logƒO2 values from −26.67 to −26.44, logƒH2S values from −1.34 to 0.34, logƒS2 values from −9.53 to −5.64, logαAu+(aq)/αAg+(aq) values from −4.72 to −4.55 and pH values from 3.33 to 4.20 at 365 ℃ and logƒTe2 values from −10.53 to −6.62, logƒO2 values from −31.99 to −30.98, logƒH2S values from −0.65 to −0.36, logƒS2 values from −13.62 to −7.20, logαAu+(aq)/αAg+(aq) values from −6.42 to −6.21 at 335 ℃. The changes in physico-chemical conditions and in precipitation of Au-Ag-Te-bearing minerals were due to boiling or to condensation of Te-rich magmatic gas into ore-forming fluids. These reflect evolution from an early oxidizing to a later relatively reducing mineralization environment. Therefore, compared with the Dahu Au-Mo deposit and with the Yangzhaiyu Au deposit, which exist in the southern and northern parts of the Xiaoqinling region, respectively, the ore paragenesis and ore-forming physico-chemical conditions of the Jinqu Au deposit were different such that its characteristics are similar to low-sulfidation Au deposits.