The emplacement history and thermal evolution of subvolcanic magma reservoirs determine their longevity, size, and ability to feed volcanic eruptions. As zircon saturation is dependent on melt temperature and composition, quantitative analysis of zircon age distributions provides insight into the timing and magnitude of intensive parameter variations during the lifetime of a magma reservoir. Here we present chemical abrasion-isotope dilution-thermal ionization mass spectrometry (CA-ID-TIMS) U-Pb zircon crystallization ages and in-situ zircon trace-element geochemistry for a suite of caldera-related, coeval plutonic and volcanic units of the Permian Sesia Magmatic System (northern Italy). This dataset documents the protracted growth and evolution (∼1 Myr) of a voluminous (>1000 km3), upper crustal (3.5–2.0 kbar) silicic magma reservoir. Systematic changes in zircon composition with time reveal episodic intrusions of new magma into a single, progressively differentiating reservoir which was dominantly kept at high crystallinity conditions (>60 vol.%). The volcanic and plutonic units both show dispersed and heterogeneous CA-ID-TIMS age distributions. A stochastic, thermodynamics-based zircon saturation model accounting for fractional crystallization, recharge and thermal rejuvenation effects on zircon growth and stability in a rhyolitic magma body reproduces the observed distributions of zircon U-Pb ages. Model results suggest that zircon compositional variability and crystallization age heterogeneity, characteristic of the Sesia and other large silicic systems, distinguish open- and closed-system magmatic processes. Specifically, an increase of the mass of crystallized zircons over time is the hallmark of thermally and chemically mature magma reservoirs, capable of producing voluminous eruptions upon changes in the thermal and mechanical state of the system. Conversely, a decrease in crystallized zircon mass over time characterizes systems where crystallization dominates over magma mobility, hindering substantial mass release during eruptive events. We suggest that quantitative analyses of dispersed zircon crystallization age distributions obtained with high-precision techniques can be applied to the plutonic and volcanic record to identify mature silicic magma reservoirs whose properties and storage conditions allowed for catastrophic caldera-forming eruptions. This work provides the petrologic community with a new tool to investigate the genesis and evolution of zircon-bearing intermediate to silicic intrusive magmatism and caldera-forming volcanism through time and across tectonic settings.