Ultramafic-hosted hydrothermal vent systems link the hydrosphere with the peridotitic mantle via serpentinization. Here, the fractionation and mobility of selected trace (Nd, Sm, Gd, Dy, Yb, Sr and Ba) and major cations (Si, Ca, Mg, Fe, Ni) during seawater-peridotite interaction was investigated through a series of experiments where natural olivine grains were reacted with an artificial seawater solution at a range of temperatures (15–90 °C) and grain size distributions. No evidence for any significant olivine dissolution or precipitation of carbonate and, Fe-oxy-hydroxide phases was observed in these experiments. Experimental data show a strong decoupling of REE (Nd, Sm, Gd, Dy, and Yb) from Sr and Ba under all experimental conditions, with Sr and Ba remaining quantitatively in solution. The REE were removed from the solution and were adsorbed onto olivine surface with kinetic rate constants (i.e. uptake over time) that increase with increasing temperature and increasing surface area (i.e. decreasing particle size). Dysprosium and Yb (heavy REE; HREE) were removed from solution with a faster rate than Nd and Sm (light REE; LREE). Gadolinium is decoupled from this trend, with a slower kinetic rate constant than Sm. The activation energies (Ea) of REE adsorption on olivine were higher for Nd and Sm than Dy and Yb. This suggests that the adsorbance of LREE is generally more dependent on temperature than the HREE. The Ea correlates well with the summed 1st, 2nd and 3rd ionization energies of REE suggesting a link between kinetic rates of element adsorption and electron configuration of the 4f-orbitals. Gadolinium has higher Ea than the other analyzed REE, consistent with the electron configuration of Gd3+ where all 4f-orbitals are filled with one electron each. These experimental data suggest that REE are adsorbed on the surface of olivine via inner sphere complexes under low-temperature hydrothermal conditions, when alteration processes are limited or extremely slow. Scavenging and fractionation of REE may occur within the recharge zone of peridotite-hosted hydrothermal systems at relatively low temperatures (<100 °C), leading to fluids with progressively higher LREE/HREE which could impose seawater-derived LREE enrichments in serpentinized peridotites during high temperature, high pressure water/rock interaction deeper in the oceanic lithosphere.