This contribution provides insights into ocean-floor hydrothermal metamorphism of the fast-evolving Dinaridic Neotethys. Mineralogical, geochemical and Sr isotope data collected from altered ophiolites and non-ophiolite basalts/andesites and tuffs of the active continental margin are consistent with hydrothermal alteration trajectories that reflect the host-rock composition. This suggests that hydrothermal fluxes were restricted within a simple closed seawater-fed system. Based on the initial isotopic ratios of Sr, two fluid–rock interaction trends are established: (a) low-to-medium degrees of metasomatism in pre-Middle Jurassic anorogenic ophiolites that progressively abated, and (b) increased intensities of metasomatism in post-Middle Jurassic orogenic ophiolites. This agrees with chlorite thermometry and Ca-Al-(Fe)-silicate phase chemistry. The metamorphic assemblages belong to the zeolite, prehnite-pumpellyite, prehnite-actinolite and greenschist facies. The facies is reliant on the temperature of hydrothermal systems and their fluid chemistry. Rare earth element (REE) phase geochemistry shows (a) variable fluid–rock ratios in chlorite and pumpellyite dependent on fluid temperatures, (b) prominent Eu and Ce anomalies that reflect the fluid oxidation state, (c) light REE/heavy REE mobilization attributed to prevalent ligand complexation, and (d) multi-phase fluid percolation across reaction zones of heterogeneous permeability. This study proposes initiation of simple hydrothermal system(s) at or near a spreading centre(s) in the infancy of the Dinaridic Neotethys. Such a system became more complex during Middle Jurassic and Early Cretaceous time with reactive hydrothermal fluids passing the recharge area and reaching the hot reaction zone. An abrupt obliteration of the established high-temperature regime ensued, following the final closure of the Neotethys.