Abstract: The Bajiaoqing lead-zinc deposit in Xichou is a magmatic-associated low-to moderate temperature hydrothermal lead-zinc deposit of great potential discovered not long ago in the Malipo area, southeastern Yunnan. The emphasis in the present paper is placed on geological setting and characteristics, genesis and regional significance for the exploration of the lead-zinc deposit. The results of research show that the Bajiaoqing lead-zinc deposit is controlled by the combination of strata, structures and magmatic rocks, and hosted in the thin-bedded limestones intercalated with phyllites in the Tianpeng Formation. The Bajiaoqing compound folds and their associated faulted structures exercise a major control on the occurrence of the ore bodies. The concealed granite plutons have not only provided the ore-forming matter, fluids and heat sources for the formation of the lead-zinc deposit, but also contributed to the activation, migration and enrichment of the ore-forming matter in the wall rocks. Similar to the geology of the Bainiuchang supergiant silver-lead-zinc deposit in Mengzi, Yunnan, the Bajiaoqing lead-zinc deposit and its surrounding areas must be considered highly prospective for the exploration of the lead-zinc deposits.