The Mantos Blancos copper deposit (500 Mt at 1.0% Cu) was affected by two superimposed hydrothermal events: (i) phyllic alteration related to a rhyolitic dome emplacement and brecciation at ca 155 Ma; and (ii) potassic, sodic and propylitic alteration at ca 142 Ma, coeval with stocks and sills emplacement of dioritic and granodioritic porphyries, that locally grade upwards into polymictic magmatic hydrothermal breccias. Major hypogene copper sulfide mineralization is related to the second event. A late-ore mafic dike swarm cross-cuts all rocks in the deposit. Two types of granodioritic porphyries can be distinguished from petrographic observations and geochemical data: granodiorite porphyry I (GP I) and granodiorite porphyry II (GP II), which resulted from two different trends of magmatic evolution. The concave shape of the rare earth element (REE) distribution pattern together with the weak or absence of negative Eu anomalies in mafic dikes, dioritic and GP I porphyries, suggest hornblende-dominated fractionation for this magmatic suite. In contrast, distinct negative Eu anomalies and the flat REE patterns suggest plagioclase-dominated fractionation, at low oxygen fugacity, for the GP II porphyry suite. But shallow mixing and mingling between silicic and dioritic melts are also likely for the formation of the GP II and polymictic breccias, respectively. Sr-Nd isotopic compositions suggest that the rhyolitic dome rocks were generated from a dominantly crustal source, while the GP I has mantle affinity. The composition of melt inclusions (MI) in quartz crystals from the rhyolitic dome is similar to the bulk composition of their host rock. The MI analyzed in quartz from GP II and in the polymictic magmatic hydrothermal breccia of the deposit are compositionally more evolved than their host rocks. Field, geochemical and petrographic data provided here point to dioritic and siliceous melt interaction as an inducing mechanism for the release of hydrothermal fluids to form the Cu mineralization.