In hydrothermal tin (Sn) systems, it remains unclear whether cassiterite precipitates from reduced or oxidized fluids. To resolve this issue, the geochemistry of magmatic garnet and cassiterite separated from fractionated muscovite-garnet granite in the Paleocene Bawapin SnW deposit was systematically investigated. CaO contents in Mn-rich garnet (spessartine) decrease from core to rim in single crystals and are negatively correlated with MnO/(MnO + FeO) ratios. These features suggest that garnet CaO content may be a good differentiation index for granitic magma evolution. Moreover, the Sn content in Mn-rich garnet increases with increasing Ca content and then decreases sharply at Ca contents of approximately 4300 ppm. Combined with evidence of Ta-rich magmatic cassiterite, the decreasing Sn content likely reflects the crystallization of magmatic cassiterite from the more evolved Sn-rich melts under oxidized conditions (ƒO2 > ΔFMQ +1.5), in contrast to the reduced characteristics of the less-fractionated biotite monzogranite (ƒO2 = ΔFMQ - 0.5). Late-stage oxidation might be attributable to fluid exsolution in the water-rich and Fe-poor granitic melts. This further indicates that hydrothermal cassiterite could precipitate in exsolved Sn4+-bearing fluids without Sn oxidation. This conclusion may provide a new perspective to our understanding of granite-related hydrothermal Sn systems worldwide.