The Siljan Ring is a 362-Ma-old impact structure formed in 1700-Ma-old I-type granites. A 6.8-km-deep borehole provides a vertical profile through granites and isolated horizontal diabase sills. Fluid-inclusion thermometry, and oxygen-isotope compositions of vein quartz, granite, diabase, impact melt, and pseudotachylite, reveal a complex history of fluid activity in the Siljan Ring, much of which can be related to the meteorite impact. In granites from the deep borehole, ??18O values of matrix quartz increase with depth from near 8.0 at the surface to 9.5??? at 5760 m depth. In contrast, feldspar ??18O values decrease with depth from near 10 at the surface to 7.1??? at 5760 m, forming a pattern opposite to the one defined by quartz isotopic compositions. Values of ??18O for surface granites outside the impact structure are distinct from those in near-surface samples from the deep borehole. In the deep borehole, feldspar coloration varies from brick-red at the surface to white at 5760 m, and the abundances of crack-healing calcite and other secondary minerals decrease over the same interval. Superimposed on the overall decrease in alteration intensity with depth are localized fracture zones at 4662, 5415, and 6044 m depth that contain altered granites, and which provided pathways for deep penetration of surface water. The antithetic variation of quartz and feldspar ??18O values, which can be correlated with mineralogical evidence of alteration, provides evidence for interaction between rocks and impact-heated fluids (100-300?? C) in the upper 2 km of the pluton. Penetration of water to depths below 2 km was restricted by a general decrease in impact-fracturing with depth, and by a 60-m-thick diabase sill at 1500 m depth that may have been an aquitard. At depths below 4 km in the pluton, where water/rock ratios were low, oxygen isotopic compositions preserve evidence for limited high-temperature (>500?? C) exchange between alkali feldspar and fluids. The high-temperature exchange may have been a post-impact event involving impact-heated fluids, or a post-magmatic event. ?? 1990 Springer-Verlag.