Abstract Active serpentinite mud volcanoes in the forearc region of the Izu‐Bonin‐Mariana system represent an excellent natural laboratory for studying the geochemical processes along convergent plate margins and the associated forearc. During IODP Expedition 366, serpentinite mud with lithic clasts from the underlying forearc crust and mantle as well as from the subducting Pacific Plate was recovered. Ultramafic clasts from Fantangisña Seamount reveal very high degrees of serpentinization with mesh and bastite textures as well as development of late lizardite and chrysotile veins, which suggests serpentinization temperatures below 200°C. On the other hand, recovered harzburgites and, on occasion, dunites from Asùt Tesoru Seamount show a well‐preserved primary assemblage with low degrees of serpentinization and forearc peridotite characteristics. Fine‐grained antigorite associating with lizardite has been identified throughout the serpentine mud matrix, suggesting an alteration temperature of c. 340°C. Furthermore, alteration conditions during rodingitization point to temperatures of at least 228°C, estimated via chlorite geothermometry. Additionally, a rare ophicarbonate clast containing andraditic as well as Cr‐rich hydrogarnets from Asút Tesoru Seamount indicates crystallization temperatures of at least 230°C. Hence, a trend of lower temperature of serpentinization and higher degree of alteration closer to the trench. The detailed characterization of the fluid‐rock alteration conditions as well as fluids composition and transport permits a better constraining of the fluid–rock interactions and related mass transfers within subduction zones and during ascent of serpentinite fault gouge within mud volcano conduits and in mudflows after their emplacement on the flanks of the edifices. Plain Language Summary The fluid migration and circulation in subduction zones play a crucial role in the geochemical cycling as well as the physical and mechanical processes taking place there. Characterizing their nature, source and pathways would contribute to a better understanding not only of the rheology and fluid recycling but also of the tectonic and metamorphic processes operating deep within the Earth's lithosphere as a whole. During an International Ocean Discovery Program (IODP) Expedition, 366 serpentinite mud volcanoes located on the fractured forearc of the Mariana subduction system were drilled. The recovered material consists of highly hydrated rocks that experienced varying degrees of metamorphism and alteration. Mineralogical and chemical composition study of these rocks showed that they are former mantle rocks formed by the infiltration of fluids within the subduction zone. Some of them experienced additional transformation during their ascent to the seafloor by acquiring substantial amount of CO 2 ‐rich minerals. Furthermore, the results show a trend in which alteration temperature is decreasing but transformation degree is increasing with proximity to the subduction channel. Key Points Serpentinization and rodingitization in the subduction channel as well as carbonation in mud volcano conduits were identified Overall evolution of the slab‐derived fluid was narrowed down to temperatures from c. 350° to c. 100°C and below Serpentinization degree increases with proximity to the trench