The Sandaozhuang super-large W-Mo deposit is located in the southern margin of the North China Craton, within the well-known East Qinling Mo mineralization belt, and is one of the typical skarn-type W-Mo deposits in China. Based on EMPA and LA-ICP-MS analyses, major and trace elements were presented, and the mineral chemistry of magnetite at various mineralization stages was discussed. Combining field observations, petrography, and geochemical characteristics, the magnetite at the Sandaozhuang deposit can be classified into three types, namely early-magmatic-stage high-temperature magnetite (Mag1), potassic-alteration-stage magnetite (Mag2), and retrograde-alteration-stage magnetite (Mag3). The Mag1 and Mag2 magnetites primarily occurred in granites in association with potassium (K) feldspar and biotite, whereas Mag3 is associated with metallic sulfide minerals that occurred mainly in vein-like structures in skarn. The three magnetites Mag1, Mag2, and Mag3 can be distinguished as having magmatic, magmatic–hydrothermal transition, and hydrothermal origins, respectively. All three types of magnetite exhibit a depletion of high-field-strength elements (HFSEs) such as Zr, Hf, Nb, Ta, and Ti, and large-ion lithophile elements (LILEs) including Rb, K, Ba, and Sr, compared to the mean continental crust composition. Conversely, they are enriched in elements such as Sn, Mo, V, Cr, Zn, and Ga. Mag3 showed no significant depletion of Co, Ni, Cu, and Bi, indicating that the influence of coexisting sulfides on the composition of magnetite at the Sandaozhuang deposit is limited. There are systematic variations in major and trace elements from Mag1 to Mag3, which exhibited similar patterns in trace element spider and rare earth element diagrams, and Y/Ho ratio, indicating a consistent source for the three types of magnetite. The changes in V and Cr contents and (Ti + V) vs. (Al + Mn) diagram of magnetite at the Sandaozhuang deposit reflected the evolution of ore-forming fluids with an initial increase in oxygen fugacity and a subsequent decrease, as well as a gradual decrease in temperature during skarn mineralization. The early high-temperature and high-oxygen-fugacity magmatic fluids became W and Mo enriched by hydrothermal fluid interaction. The rapid change in fluid properties during the retrograde alteration stage led to the precipitation of scheelite and molybdenite.
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