The Archean Olondo greenstone belt (OGB) is located on the Aldan shield, the largest basement of the Siberia craton. With well-preserved abundant mafic-ultramafic rocks, ≥30% in volume, the OGB is unique among other greenstone belts in the world. In this study, we present the most up-to-date geochemical and isotopic data for the ultramafic-mafic rocks of the OGB, in order to better constrain their mantle sources and the plate tectonic process involved in the formation of OGB at ca. 3 Ga. The ultramafic rocks vary from fresh to serpentinized dunites, and are highly refractory as residual mantle phase as indicated by depletion in P-Platinum Group Elements (PGE) relative to I-PGEs for highly siderophile elements (HSE). Fresh dunites show U-shaped rare earth element (REE) patterns, with positive to negative Nb anomalies, indicative of late metasomatism in their mantle source. Rhenium-Osmium isotopic compositions of these dunites yield mantle model age (TMA) of 2960–3020 Ma, comparable to the formation age of the OGB at ca. 3 Ga. Together, the data suggest that, unlike mantle cumulate origin for most of the Archean ultramafic rocks, the OGB dunites were mantle residuals after a high degree of partial melting (>30%), which subsequently interacted with the subduction-related melt/fluid. On the other hand, the OGB mafic rocks including komatiitic and tholeiitic basalts show geochemical characteristics relative to the ultramafic residuals that reinforce a subduction-related regime as their formation setting, despite extra mid-ocean ridge and plume settings. Tholeiitic basalts yield variable REE patterns from depleted, chondritic, to enriched light rare earth elements (LREE) patterns, with variable Nb-Ta anomalies, indicating their similarities with modern N-MORB and boninites, comparable to mafic rocks in typical supra-subduction zone (SSZ) ophiolites. Such mafic rocks with combined lower εNd(t) and negative Nb-Ta anomalies were most likely the result of mixing with subducted components, consistent with the observed Nb depletion in the residual dunites. The Al-depleted komatiitic basalts may have originated from deep mantle source, corresponding to garnet stability field, confirmed by their depletion in HREE and requiring a mantle plume to transport and melt at such a depth. The OGB ultramafic-mafic rocks could be a record to witness plume-induced subduction initiation processes such that mantle plume, sea-floor spreading and subduction were all in operation in the Mesoarchean time.