The Wuao polymetallic lead-zinc deposit in the Longquan area of southwestern Zhejiang Province is a medium-sized lead-zinc polymetallic deposit within the Wuyi Mountain Cu-Pb-Zn polymetallic metallogenic belt of southwestern Zhejiang, which is one of the significant lead-zinc polymetallic deposits in the Mesozoic-Cenozoic giant tectonic-magmatic belt of the southeastern Chinese continental margin. This study focuses on the Wuao polymetallic lead-zinc deposit, conducting electron probe compositional analyses of sphalerite. The results show that the Fe content ranges from 10.539% to 12.43%, Mn content varies between 0.29% and 0.43%, Cd content is from 0.326% to 0.431%, and Cu content lies between 0.015% and 0.256%. Elements such as Ge, Ga, In, and Cu are either below the detection limit or present at very low levels, indicating that sphalerite is enriched in Fe, Mn, and Cd elements, while the contents of Ge, Ga, In, and Cu are relatively low. The Zn/Cd ratio (124 to 166), Fe content (10.539% to 12.430%), and Fe/Zn ratio (0.192 to 0.235) indicate that sphalerite formed under a medium to high-temperature ore-forming environment. The Zn/Cd ratio (124 to 166), Cd/Fe ratio (0.028 to 0.039), and Cd/Mn ratio (0.758 to 1.327), as well as their representation on Cd-Fe-Mn and FeS-MnS-CdS diagrams, all exhibit characteristics typical of magmatic hydrothermal deposits, leading to the inference that the Wuao polymetallic lead-zinc deposit may belong to a medium to high-temperature magmatic hydrothermal deposit.