The Middle-Upper Cambrian Xixiangchi Formation in the Sichuan Basin is regarded as an important reservoir with great potential for hydrocarbon exploration. It is previously indicated that the Xixiangchi carbonates have experienced extensive dolomitization, however, the origin of dolomitizing fluids and the dolomitization mechanism still remain uncertain. In this study, a set of petrographic and geochemical examinations, including rare earth elements (REE) and isotopic (C, O, and Sr) compositions were used to trace the origins of dolomitizing fluids and associated diagenetic processes. The petrographic examination revealed three types of matrix dolomites (D1, D2, D3) and one cement saddle dolomite (SD). These phases have crystal size ranges of less than 30 μm (very fine to fine crystals, D1), 30–100 μm (fine to medium crystals, D2), 100–300 μm (medium to coarsely crystalline dolomite, D3), and 0.3–4 mm (fracture filling cements, SD), respectively. D1 is characterized by non to very weak luminescence, weakly negative Ce anomalies (Ce/Ce* = 0.84 ± 0.02), strongly negative Eu anomalies (Eu/Eu* = 0.65 ± 0.03), and high ⁸⁷Sr/⁸⁶Sr ratios (0.71062 ± 0.00122). In combination with δ¹³C (−1.5‰ ± 0.2‰) and δ¹⁸O (−9.7‰ ± 0.5‰) compositions, D1 is interpreted to be formed by penecontemporaneous dolomitization in the near-surface environment with seawater as the dolomitizing fluid. In contrast, D2 is characterized by intercrystalline pores, dirty crystal surfaces, similar δ¹³C (−1.4‰ ± 0.4‰) compositions but higher δ¹⁸O (−8.9‰ ± 0.7‰) compositions, and lower ⁸⁷Sr/⁸⁶Sr ratios (0.70992 ± 0.00035), similar Ce anomalies (Ce/Ce* = 0.87 ± 0.04) and higher Eu anomalies (Eu/Eu* = 0.85 ± 0.04). The coarser D2 is regarded to be formed by the post-penecontemporaneous seepage-reflux dolomitization or by recrystallization of D1 dolomite in a near-surface or shallow burial environment. D3 is distinguished by a cloudy core with clear rims, showing slightly higher Eu anomalies (Eu/Eu* = 0.88 ± 0.02) and similar Ce anomalies (Ce/Ce* = 0.88 ± 0.02) than those of D1 and D2. Combined with the δ¹⁸O compositions (−10.4‰ ± 0.4‰) and ⁸⁷Sr/⁸⁶Sr ratios (0.70989 ± 0.00048), D3 is thought to be formed by the overgrowth or recrystallization of D1 and D2 dolomites in a shallow to moderate burial environment. The fractures filling SD dolomite consists of nonplanar and much coarser crystals with undulatory extinctions and brighter red luminescence. The lower δ¹⁸O (−11.1‰ ± 0.3‰) compositions, lower negative Eu anomalies (Eu/Eu* = 0.70 ± 0.01) of SD than the matrix dolomites, and similar Ce anomalies (Ce/Ce* = 0.83 ± 0.01) are indicative of hydrothermal dolomitization, with possible fluids associated with the magma during the period of Emei taphrogenic movement. In addition, the ⁸⁷Sr/⁸⁶Sr ratios (0.70941 ± 0.00003) of SD suggest probable origin from the coeval seawater partially. Therefore, SD dolomite is interpreted to be formed by hydrothermal dolomitization with mixed dolomitizing fluid of seawater and hydrothermal fluids. In summary, all the matrix dolomites have almost the same ΣREE concentrations and exhibit similar near-flat REE partition patterns with weak LREE enrichments, weakly negative Ce anomalies, and negative Eu anomalies. Such characteristics of REE compositions are indicative of similar evolved dolomitizing fluid, such as seawater or seawater- derived fluids. By contrast, SD dolomites have a different REE partition pattern with left-leaning characteristics, LREE depletions, and negative Eu anomalies, thus suggesting a different dolomitizing fluid source from the matrix dolomites. In addition, the development of intercrystalline pores associated with D2 dolomite makes it more likely to be a potential reservoir, indicating that the dolomitizing history of carbonate has a strong influence on the quality of potential dolomite reservoirs.