The Blagodatnoye deposit with 340 t gold reserves is one of the most productive mines in Russia. Modern methods of studying fluid inclusions were used to determine the properties of fluids that formed this deposit. A comprehensive study revealed that the Blagodatnoye gold deposit was formed between 120 and 350 °C and at 0.2–2.6 kbar, and from fluids with salinities ranging from 0.5 to 30 wt.% (NaCl–eq.). These fluids are: 1—water–carbon dioxide; 2—carbon dioxide–hydrocarbon; 3—highly saline aqueous. According to Raman spectroscopy and gas chromatography–mass spectrometry, ore–forming fluids contained H2O, CO2, hydrocarbons and oxygenated organic compounds, sulfonated, nitrogenated and halogenated compounds. Early oxidized water–carbon dioxide fluids formed barren associations of the deposit. Later reduced carbon dioxide–hydrocarbon fluids had a key role in the formation of gold-bearing quartz veins. The stable isotope data (δ34S = 0.8 to 21.3‰, δ13С = –2.8 to –20.9‰, 3He/4He = 0.14 ± 0.3*10–6) suggest the ore-forming fluids have a crustal source.