The Paleocene ore deposits related to the India–Asia continental collision are widely distributed in the Gangdese metallogenic belt. Among these, Sinongduo is the first discovered epithermal Ag-Pb-Zn deposit in the Lhasa terrane. However, there is still controversy over the ore-forming magma in this deposit. This study mainly reports new zircon U-Pb isotopic ages, whole-rock geochemistry, and Sr-Nd isotopic data for the granite porphyry from the Sinongduo deposit, aiming to discuss the petrogenesis and tectonic setting of the granite porphyry and its genetic link between the Ag-Pb-Zn mineralization. The results show that zircon U-Pb analyses yield ages of 62.9 ± 0.5 Ma and 59.0 ± 0.7 Ma for the granite porphyry, indicating that it formed during the Paleocene period. The timing of the granite porphyry intrusion is contemporaneous with the mineralization, suggesting that it is most likely the ore-forming magma in the Sinongduo deposit. The granite porphyry has high SiO2 and K2O, moderate Al2O3, and low Na2O, CaO, and FeOT contents, and it displays significant enrichments in LREEs and LILEs and depletions in HREEs and HFSEs, with negative Eu anomaly. The granite porphyry is a peraluminous series and can be classified as S-type granite. Moreover, the granite porphyry shows relatively high ratios of (87Sr/86Sr)i and low values of εNd(t). The geochemical and isotopic compositions of the granite porphyry from the Sinongduo area are similar to those of the upper continental crust, which suggests that the granite porphyry was most likely derived from the melting of the upper continental crust in the Lhasa terrane during the India–Asia collisional tectonic setting.