Most of the volcanic rocks in the Acoculco geothermal system (AGS), near to the surface manifestations, are intensively altered. Thirty‐four surface volcanic rocks and five rocks from outcrop sections are considered in this work. Silica polymorphs (quartz, cristobalite and tridymite) are the dominant hydrothermal minerals in almost all the rock samples. The following other minerals are present in minor concentrations: alkali‐feldspars (sanidine potassic, anorthoclase and microcline), plagioclase feldspars (albite and anorthite), clay minerals (illite, kaolinite and montmorillonite), anhydrite, buddingtonite, titanoaugite, magnetite and anatase. This type of mineral assemblage of the rocks indicates an intensive silicic and argillic alteration. Comparison of the elemental concentrations of the surface acid rocks of the AGS with that of the precursor rock has indicated alteration‐induced changes in (a) chemical mobility in the concentrations of major element oxides, with an increase in the concentrations of SiO2, and TiO2, loss in those of Al2O3, Fe2O3, MnO, MgO, CaO, Na2O and K2O, and no statistically significant changes in those of P2O5, (b) no significant changes in the concentrations of LREE and MREE (except Dy and Ho), however, less but significant loss in the concentrations of Dy and Ho, and HREE, and (c) there is an enrichment in the concentrations of Nd, Sr, Sc, V, Nb, Ag, Sn, Pb, Tl, Ta, U and Th; and depletion in Be, Co, Zn, Ga, Ge, Rb, Y, Zr, Mo, Cs, Ba and Hf compared to those of the precursor rock. This type of distribution of the elements may indicate (a) an intense silicic alteration; and (b) REEs might have been leached from the original rocks because of hydrothermal alteration processes, but only LREEs, and MREEs (except Dy and Ho) can be redistributed and accommodated in the hydrothermal minerals, providing them with somewhat inert (immobile) behaviour. The mass change calculations have indicated that MnO and Sr have experienced the greatest and smallest mass changes, respectively. The identification of outliers in chemical data has revealed the presence of two distinctive groups of rocks. Ten out of the total 27 acid volcanic rocks with several elements as outlier data are negligibly to moderately altered (Group‐1), and the remaining 17 acid rocks without outlier data are intensively altered rocks (Group‐2).