The Qingshuitang Pb-Zn Deposit, a medium-sized Pb-Zn deposit, is located in the middle section of the eastern margin of the Yangtze Block, at the northern edge of the SN-trending Leiyang-Linwu fold-thrust belt. To investigate the metallogenic process and genesis of the deposit, genetic mineralogical studies were conducted on the main metallic minerals using optical microscopy, stereomicroscopy, X-ray diffraction, and electron probe. The results show that sphalerite in the Qingshuitang Pb-Zn Deposit can be classified into 4 color types: black-brown, reddish-brown, brown-yellow, and yellowish-green. As the color transitions from dark to light, the occurrence of tetrahedral crystal forms decreases while rhombic dodecahedral forms increase, indicating a decrease in mineralization temperature. The w(Fe) in sphalerite ranges from 0.107 % to 1.458 %, while w (Zn) varies between 64.240 % and 66.443 %, with anaverage w (Zn )/w(Cd) of 184.56, suggesting that the mineralization temperature is medium-low temperature. The compositions of sphalerite, galena, and bournonite indicate that the metallogenic materials were primarily derived from magmatic hydrothermal fluids, with minor contributions from strata fluids in later stages. The fluid exhibits periodic changes from sulfur-rich to sulfur-poor conditions. The Qingshuitang Pb-Zn Deposit is classified as a medium-low temperature hydrothermal deposit related to magmatic hydrothermal activity, with later-stage involvement of meteoric water.