Natural moissanite (SiC) is reported from dozens of localities, most commonly from ultramafic rocks where it may be associated with diamond and iron silicides. Yet, formation conditions of moissanite remain in the realm of speculation. The key property of SiC is its extremely reduced nature. We have experimentally equilibrated SiC with olivine and orthopyroxene at 1300-1700°C, 2 and 10 GPa, to determine the oxygen fugacity of the C + orthopyroxene = SiC + olivine + O 2 buffer (MOOC) and the equilibrium X Mg of coexisting mantle silicates. The experiments resulted in olivine and orthopyroxene with X Mg of 0.993-0.998 in equilibrium with SiC and iron silicides. Calculated oxygen fugacities are 5-6.5 log units below the iron-wustite (IW) buffer at 2-10 GPa. The experimental results concur with calculated phase relations for harzburgitic mantle under reducing conditions that include metal alloys, carbides and silicides. The extremely reducing character of SiC precludes coexistence with silicates with appreciable Fe 2+ , and hence excludes equilibrium with mantle phases with typical X Mg 's of~0.9. Calculated Fe-Mg diffusion lengths reveal that SiC grains of 1 mm would react with the Fe-component of olivine to iron carbide or metal and orthopyroxene within <1 Ma at temperatures above 800°C. We thus conclude that SiC forms through a low-temperature process (<700-800°C) where equilibrium is only reached at the grain scale. The most plausible formation mechanism is a strong fractionation of a C-O-H fluid from metamorphosed sediments originally rich in organic material. Such a fluid is initially saturated with graphite or diamond and is slightly more reduced than the H 2 O-C join. Fluid percolation in the mantle leads to H 2 O-sequestration by crystallizing hydrous phases (most likely serpentine, brucite or phase A), and hence O 2 -removal from the fluid causing its reduction and continuous graphite or diamond precipitation. A small, highly fractionated fluid fraction may then reach CH 4 and H 2 concentrations that allow SiC formation on grain boundaries without equilibration with the bulk rock on a larger scale. Such a mechanism is corroborated by the strongly negative δ 13 C of moissanites (-20 to -37), consistent with reduced fluids originating from metamorphosed organic carbon.