This study employs logging, petrology, and geochemistry to investigate the characteristics, origin, and hydrocarbon significance of fractures and (ferro) dolomite veins in a buried hill in the Qiongdongnan (QDN) Basin, South China Sea. We show that the study area is mainly characterized by three stages of fracturing with medium-high dipping angles. The orientation of the fractures is mainly NNW–SSE, consistent with the fault system strike formed by the Mesozoic–Cenozoic tectonic activity in the basin. (Ferro) dolomite veins in the fractures can be classified into three stages, all of which can be even observed in individual fractures. The first stage is the powdery crystal dolomite veins grown mainly on the fracture surface, which have the highest strontium isotope values, as well as high contents of the Mg element and extremely low contents of the Fe and Mn elements. The first-stage veins were formed in a relatively open oxidized environment, and the vein-forming fluids exhibit characteristics of mixing formation water and atmospheric freshwater within the fractures. The second stage, involving fine-crystal dolomite veins, was formed in a buried diagenetic environment where groundwater mixed with deep hydrothermal fluids, and contained the highest carbon isotope values, more Fe and Mn elements, and less Mg element than the first stage. The third stage of medium-crystal ankerite veins was formed in the latest stage, with the lowest strontium and oxygen isotope values. This was mainly a result of deep hydrothermal formation in which the rock-forming material formed from the interaction between the hydrothermal fluid and the iron-rich and aluminosilicate minerals in the surrounding granite of the fractures. We conclude that the multi-phase tectonic movements form a massive scale reticulated fracture inside the granite buried hill, which effectively improves the physical condition of the gas reservoirs. The gas reservoirs remain of high quality, despite the filling of the three stages of (ferro) dolomite veins.