The Shandong Province along the southeastern margin of the North China Craton is the largest gold producing region in China. The nature and extent of gold metallogeny between the Western Shandong (Luxi) and Eastern Shandong (Jiaodong) sectors display marked contrast. In this paper, we synthesize the information on mineralization and magmatism, S–Pb–H–O–C–He–Ar isotopic data of the ores and Sr–Nd–Pb–Hf isotopic data of the Mesozoic plutons from the Shandong region. Combined with the salient regional geophysical data, we discuss the geodynamic setting of the gold mineralization in Shandong. The age data converge to indicate that the peak of gold metallogeny in this region occurred at ca. 120±10Ma. The mineralization in Luxi area shows links with sources in the Tongjing and Yinan complexes. The ore-forming materials in the Jiaodong area were derived from multiple sources and show clear evidence for crust–mantle mixing. The Moho depth on both sides of the Tan–Lu fault is broadly similar with only a minor variation across the Tan–Lu fault. The LAB (lithosphere–asthenosphere boundary) in the Jiaodong region is shallower than that in the Luxi area. The Tan–Lu fault is identified as a major corridor for asthenosphere upwelling. Geochemical features show that the mantle beneath the Luxi area is mainly of EM1 type, whereas the mantle in the eastern part, close to the Tan–Lu fault shows mixed EM1 and EM2 features. In contrast, the mantle beneath the Jiaodong area is mainly of EM2 type, suggesting the existence of more ancient lithospheric mantle beneath the Luxi area, in comparison to the extensively modified lithospheric mantle and asthenosphere beneath the Jiaodong area. The gold metallogeny in Shandong Province occurred in the geodynamic setting of lithospheric thinning. The differences in the character and intensity of gold mineralization between the Western and Eastern Shandong regions might be a reflection of the contrasting tectonic histories. The Western Shandong region preserves imprints of destruction through the Yangtze plate collision which probably marks the prelude for gold metallogeny in Jiaodong area. Subsequent magmatic input and cratonic destruction through Pacific plate subduction provided the settings for the later widespread mineralization in multiple phases.