The Shizui Cu–Pb–Zn deposit is located in central Jilin Province. It sits at the tectonic junction between the eastern Xing’an–Mongolia Orogenic Belt (XMOB) and the northeastern North China Craton (NCC). This is the first discovered Paleozoic Cu-polymetallic deposit in the region. Our study combines detailed geological investigation with systematic fluid inclusion analysis. We analyzed samples from four distinct paragenetic stages. Analytical methods include microthermometry, laser Raman spectroscopy, and hydrogen-oxygen isotope analysis. These data constrain the source, evolution, and precipitation mechanisms of the ore-forming fluids. The results delineate a clear evolutionary path: the ore-forming fluid originated as a high-temperature (346–437 °C), high-salinity (up to 51.68 wt.% NaCl equiv.) NaCl–H₂O–CO₂ system during the early quartz-sulfide stage (Stage I, Quartz ± Arsenopyrite ± Pyrite Stage), as evidenced by the coeval presence of high-salinity S-type and CO₂-rich C-type inclusions, indicating fluid immiscibility. The fluid then evolved into a boiling, medium temperature to high temperature (262–355 °C), high-salinity NaCl–H₂O system during the later part of early quartz-sulfide stage (Stage II, Quartz-Cu Polymetallic Sulfide Stage), a transition marked by the common coexistence of liquid-rich (L-type) and vapor-rich (V-type) inclusions with similar homogenization temperatures. This phase separation (boiling) served as the primary trigger for the massive deposition of chalcopyrite, arsenopyrite, and pyrite. Subsequently, the system cooled and diluted, transforming into a medium- to low-temperature (182–275 °C), low-salinity, partially homogeneous NaCl–H₂O system in the late quartz-sulfide stage (Stage III, Quartz-Pb-Zn Polymetallic Sulfide Stage). Finally, in the quartz-carbonate stage (Stage IV, Quartz-Carbonate Stage), the fluid temperature further decreased, resulting in a low-temperature (128–211 °C), low-salinity, homogeneous NaCl–H₂O system. Hydrogen-oxygen isotope data show that the calculated δ¹⁸O_H2O values decreased from +6.6‰ to +6.7‰ in Stage I to +3.4‰ to +3.9‰ in Stage II, and further to −0.4‰ in Stage III, while the δD values shifted from −91.6‰ to −90.6‰, to −94.4‰ to −94.2‰, and finally to −95.7‰. This trend indicates that the initial magmatic fluid progressively mixed with meteoric water. The geological characteristics, spatial association with Hercynian biotite monzogranite, developed skarn alteration, and the documented fluid evolution trajectory collectively affirm that the Shizui deposit is a typical skarn-type system. The deposit shares significant similarities in mineralization conditions, age, and tectonic setting with the skarn-type Tianbaoshan Pb–Zn–Cu–Mo deposits in the western segment of the XarMoron–Changchun Metallogenic Belt (XCMB). This correlation strongly suggests that the Paleozoic XCMB extends eastward and holds considerable potential for the discovery of late Paleozoic skarn-type Cu-polymetallic deposits in its eastern part.