Abstract: The petrogenesis and tectonic environment of olivine basaltic porphyrites were judged according to their geochemical characteristics in Tashan area of Xuzhou. Then the exploration prospect of diamond was discussed. The result shows that they are plotted in the intraplate tholeiitic series and are slightly enriched in LREE. They were formed by partial melting of the enriched mantle of the garnet facies through varying degrees of partial melting in the intraplate extensional tectonic background. Besides, there was a certain degree of plagioclase intergranular effect in the process of magma crystallization. The particle diamond it contains is similar to that of the Lanling area in Anhui, which shows the characteristics of the early growth of diamond. The origin should be the capture of the mantle source. In terms of geochemical characteristics, they are obvious different from the kimberlite. They had characteristics of basaltic magma in the extensional period of Paleogene and did not have the conditions to carry a large number of deep source inclusions. Therefore, it was unfavorable to form a primary diamond deposit.