Abstract: Yangpingwan gold deposit is located in the frontier of the southern thrust nappe of south Qinling. Many gold deposits have been found in this region of great prospecting potential. Yangpingwan gold deposit is distributed in Meiziya formation of early Silurian, the ore-controlling wall rock is carbon-bearing two-mica quartz schist and two-mica schist with developed cleavage and fissure in thrust nappe shear zone. The type of ore is mainly carbon-bearing two-mica quartz schist and two-mica schist. Wall rock alteration is associated with silicification, pyritization, limonitization, biotitization and chloritization. The composition of fluid inclusions shows that the mineralization system is H₂O-CO₂-NaCl hydrothermal system. The characteristics of isotope of hydrogen and oxygen show that the water medium of ore-forming fluids is the original formation water. Sulfur isotopic characteristics show that the ³⁴S in the pyrite and pyrrhotite is derived from the strata. Meiziya formation of early Silurian is the source bed, the gold ore forming in Yangpingwan gold deposit is controlled by Yanshanian thrust nappe shear zone. Through comprehensive study of these aspects, this paper established the metallogenic model of Yangpingwan gold deposit.