Jiaodong is the most important gold ore-concentrated region of China. And the fracture zone altered-type gold deposit which named "Jiaojia-type" gold deposit, is the most important gold deposit type of the region, which takes up over 90% the proven amount of gold. Dayingezhuang gold deposit which located in the middle of the Zhaoping gold belt, is a typical fracture zone altered type gold deposit with large-scale sericite-quartz alteration zone (with the width of 20 similar to 200m) and K-feldspar/reddish alteration zone (with the width of 50 similar to 300m) occur in the gold deposit. And the altered rock type gold orebody mainly develops in the sericite-quartz alteration zone which is in the footwall of Zhaoping fault zone. Based on the detailed geological observations in the field, we found out the alteration type and mineral assemblage of the Dayingezhuang gold deposit, collected different types of alteration rock samples in the II orebody scientifically, conducted rock geochemistry element analysis, which is using the method of the mass balance to discuss the regularity of elements migration in the hydrothermal alteration process and mechanism, discussed the mechanism of gold precipitation. We conclude that the hydrothermal alteration can be devided into K-feldspar/reddish alteration, sericite-quartz alteration, pyrite-sericite-quartz alteration, and carbonatization. K-feldspar/reddish alteration occurred in the premineralization, some K-feldspar can be formed during this process. Fe, Cu, Pb, Rb are brought into wall-rock, while Si, Al, Na, Ca, Ba, Sr, Cr are brought out in geochemistry aspect. At the same time, the Au are released into ore-forming fluid because of the interaction between fluid and wallrock. Sericite-quartz alteration and pyrite-sericite-quartz alteration occurred during the mineralization, with the enhancement of alteration, Fe, Cu, Pb and other elements related to mineralization are enriched during alteration, the descent of the content of HS- induced the decomposement of Au (HS)(2-), Fe2+ and Fe3+ were consumed to form the pyrites, which induced the deposition and enrichment gold. Gold activate, migrate and deposit through all these process.