The Notch Peak granitic stock, western Utah, is comprised of three concentric sequentially intruded rock types, from granite at the rim, to quartz monzonite I, to quartz monzonite II at the core. The δ¹⁸O values of whole rocks vary about an average of 9.4 (SMOW), irrespective of the rock type and position relative to contact, suggesting that the three magmas had the same parent. The whole rock δD values in the stock range from −100 to −55. δD values increase toward the cores of both quartz monzonite I and quartz monzonite II, resulting in concentric contours. The δD contours of quartz monzonite II cross-cut those of quartz monzonite I, suggesting little isotopic interaction between these bodies and the absence of a late pervasive fluid phase. There is a positive correlation between δD values and water content of the samples, where samples from each body define a distinct field. The positive correlation is explained by isotopic fractionation attendant on vapor exsolution from the crystallizing magma. An observed increase in δD with the degree of chloritization, a trend opposite to that observed in systems where participation of meteoric water has been demonstrated, is the result of subsolidus interaction with the exsolved fluids. These results show that large variations in the hydrogen isotope ratios of a granitoid can arise by exsolution of a vapor phase from the melt on crystallization. In general, magmas with larger modal amount of primary hydrous phases will tend to have higher δD values than those with small amounts of hydrous phases. Furthermore, the relatively high δD values of chlorites at Notch Peak confirm the applicability of classical concepts of closed-system deuteric alteration to some granitoid bodies. Thus, meteoric water interaction need not be always invoked to explain hydrogen isotope variation and deuteric alteration in granitoids.