Genetically related to the local Yanshanian granite porphyries, Changchengling Sb-Pb-Zn polymetallic deposit is a medium-low temperature hydrothermal deposit. This paper mainly discusses the features of the wall rock alteration in this area from such perspectives as geological characteristic, alteration types, distribution of various alterations and the geochemical characteristics of the altered rocks. The alteration of wall rocks in this deposit develops well with silicification, fluoritization, carbonation, chloritization, zeolitization and serpentinization, and there are also signs of skarnization, marbleization, micacization. Dolomitized or calcitized carbonatites are favorable ore-bearing rocks, and silicification is the most contributive alteration for ore-forming in the deposit. Alteration of wall rocks, which is controlled by relevant stratum lithologies, faults, granite porphyries and karst caves, plays an important part in the process of hydrothermal mineralization, and is a significant indicator for prospecting in this region.