Abstract: The Baiyun gold deposit in Liaoning Province is tectonically located in the conjunction of Dashiqiao-Caohekou fault depression and Yingkou-Kuandian fault uplift, in the middle of Eastern Liaoning rift, on the north margin of North China plate. The general structure in the orefield is the E-W-trending linear fold. The gold orebodies are controlled by the E-W-running brittle-ductile shear zone. The Liaohe group behaves as source bed. The gold ore occurs in the strata of Gaixian formation and the third member of Dashiqiao formation and the Yanshanian dykes. The mineralization has no obvious choiceness to rocks. The deposit is characterized by ductile shear zone. Pyritization in the silicic and potassic alteration belt is the notable indicator for gold prospecting. The metallogenesis in the deep is continuous, with great potential.