Ferralsols in the transitional zone between the Adamaoua and the South Cameroonian plateaus provided evidence of significant economical and scientific interests, but they have received very little attention over the last decades. Thus, macroscopic, mineral and geochemical investigations of two residual soil profiles from orthogneiss in the Bétaré-Oya Gold District (BOGD) with significant morphological differences were conducted in order to assess weathering and lateritization processes and their significance to the occurrence of mineralized trace and rare earth elements. Macroscopically, soil profile in upslope is deep weathered and thick (> 8.0 m thick), exhibiting a 5.1 m thick encrusted mineral level. Inversely, the downslope soil profile is moderately weathered and marked by a near surface water table that partly affects the mineral horizon B. These studied ferralsols result from an intense weathering but weak to moderate lateritization as revealed by the Chemical Index of Alteration (CIA: 87 to 99%), the Plagioclase Index of Alteration (PIA: 98 to 100%) and the Index of Lateritization (IOL: 31.48 to 60.83%). The two soil profiles have a similar mineralogical content characterized by the predominance of newly-formed secondary minerals such as kaolinite (12–40%), gibbsite (12–27%), goethite (7–15%), hematite (2–15%), maghemite (6–10%) and anatase (1–2%). However, a considerable amount of residual quartz (16–56%) and muscovite (3–15%) is evidenced in the weathering products. Geochemically, the weathering products of Ndokayo show weak to moderate depletion of SiO2 (77.26–31.82%), strong depletion of alkali and alkaline earths (Weathering Index of Parker or WIP: 56.73 to 1.56), and moderate enrichment of Al2O3 (12.43–29.20%), Fe2O3 (1.26–23.45%) and TiO2 (0.11–1.77%). V (64.67–210 ppm) and Cr (25.81–720 ppm) are the most enriched trace elements in this area, with their respective maximum enrichment factor of 2 and 7, and display similar geochemical patterns with Fe2O3, suggesting their adsorption or incorporation into the crystalline structure of Fe-oxides. Some others mineralized trace elements (Sc, Ga, As, Mo, Sn, Cs, Pb, Bi, Th and U) exhibit low to moderate contents, even if their mineralization indices range between 1 and 81. This is indicative of low mining potential of the Ndokayo weathering products. Finally, the deep and intense weathering of orthogneiss, coupled with weak to moderate lateritization of the weathering products in the study area is controlled by rock type involving the formation of kaolinitic laterites and bauxitious kaolins with weak mineralization indices of some trace and rare earth elements.