The Ust’-Belaya terrane (Chukotka, NE Russia), belonging to the West Koryak fold belt, is made of mantle and crustal ultramafic-mafic complexes which originated during several discrete episodes of magmatic activity in the Neoproterozoic, the late Neoproterozoic-Cambrian and the early-middle Triassic and accreted to the Asian continental margin in the early Cretaceous. This paper focuses on the latest magmatic episode expressed in intrusion of microgabbro dikes and nearly coeval metamorphism superimposed on both ancient complexes and the dikes. We present original 40Ar/39Ar ages, mineral and bulk-rock chemistry of the microgabbro dikes, metamorphosed dike and vein cutting ultramafic-mafic complexes. Dike microgabbros resemble differentiated arc-tholeiitic magmas originated in a subduction setting. Differentiated magmas intruded into much older spinel peridotites and dunites located at mid-crustal levels. Intrusion and crystallization of these magmas was followed by down-going movement of spinel peridotites and rocks of the mantle-crust transition zone towards a mantle wedge where they were metamorphosed at high-P conditions. This metamorphism resulted in transformation of microgabbro to garnet amphibolite, diorite to albite-zoisite-paragonite-pargasite rock and spinel peridotites to metaperidotites. P-T parameters of this metamorphism reconstructed based on mineral assemblage of garnet amphibolite correspond to those of epidote amphibolite – amphibolite – amphibole eclogite facies transition. The peculiar zoisite (clinozoisite)-paragonite mineral assemblage typical of metamorphosed vein rock indicates high-P metamorphic conditions of epidote-amphibolite facies.