This paper deals with geochemistry of the Qingyangou Ni-Mo deposit on the basis of the field work. The results indicate: 1) the contents of Mo, Ni, Ti, Cu, Pb, Zn, P and TOC are rich in the ore-bearing rocks; 2) the abundances of platinum group elements related to that of crust and mantle; 3) there exists greatly difference in the contents of REE elements in rocks; The samples are characterized by the slight negative or positive Ce anomalies, and distinct positive Eu anomalies, L-REE is enrichment relative to H-REE; 4) the character of hydrogen-oxygen isotope and geology shows that mineralizing fluid was made up of reconstructive intensively meteoric water, metamorphic fluid and little magmatic water; and 5) the homogenization temperature of primary inclusion in the quartz vein with Ni mineralization forming at the fore-middle stage is from 211.4 ℃ to 444.9 ℃, and salinity (NaCleq) is from 7.02% to 19.21%. The molybdenite formed in high temperature because of its direct relation with graphitization.