We have identified a new crustally derived granite pluton that is related to the Emeishan Large Igneous Province (ELIP). This pluton (the Wase pluton, near Dali) shows two distinct SHRIMP zircon U-Pb age groups (similar to 768 and similar to 253 Ma). As it has an intrusive relationship with Devonian limestone, the younger age is interpreted as its formation, which is related to the ELIP event, whereas the similar to 768 Ma Neoproterozoic-aged zircons were inherited from Precambrian crustal component of the Yangtze Block, implying the pluton has a crustally derived origin. This is consistent with its peraluminous nature, negative Nb-Ta anomaly, enrichment in light rare earth elements, high Sr-87/Sr-86((i)) ratio (0.7159-0.7183) and extremely negative epsilon(Nd)((i)) values (-12.15 to -13.70), indicative of melts derived from upper crust materials. The Wase pluton-intruded Devonian strata lie stratigraphically below the Shangcang ELIP sequence, which is the thickest volcanic sequence (similar to 5400 m) in the whole ELIP. The uppermost level of the Shangcang sequence contains laterally restricted rhyolite. Although the rhyolite has the same age as the Wase pluton, its geochemical features demonstrate a different magma origin. The rhyolite displays moderate Sr-87/Sr-86((i)) (0.7053), slightly negative epsilon(Nd)((i)) (-0.18) and depletions in Ba, Cs, Eu and Sr, implying derivation from differentiation of a mantle-derived mafic magma source. The coexistence of crustally and mantle-derived felsic systems, along with the robust development of dike swarms, vent proximal volcanics and thickest flood basalts piles in Dali, shows that the Dali area was probably where the most active Emeishan magmatism had once existed.