A suite of fifteen peridotite xenoliths from the Bakony-Balaton Highland Volcanic Field (BBHVF, Pannonian Basin, Central Europe) that show abundant petrographic evidence of fluid and melt percolation were studied in order to decipher the formation of their melt pockets and veins. The suite mainly consists of “fertile” lherzolites (5.8–19.9 vol.% clinopyroxene) and a few harzburgites (1.9–5.4 vol.% clinopyroxene) from well-known localities (Szentbékkálla, Szigliget) and two previously unreported localities (Füzes-tó and Mindszentkálla). Major and trace element data indicate that most of the peridotites record variable degrees of partial melt extraction, up to > 15% for the harzburgites. Subsequently, the xenoliths experienced at least two stages of metasomatic modification. The first stage was associated with percolation of a volatile-bearing silicate melt and resulted in crystallization of amphibole, enrichment in the most incompatible trace elements (Ba, Th, U, Sr), and development of negative Nb-Ta anomalies in clinopyroxene. The second and last metasomatic event, widespread beneath the BBHVF, is associated with the formation of silicate melt pockets, physically connected to a network of melt veins, with large and abundant CO2 vesicles. The glass in these veins has sub-alkaline trachy-andesitic composition and displays an OIB-like trace element signature. Its composition attests to the migration through a supra-subduction zone mantle wedge of silicic melt highly enriched in volatiles (CO2, H2O, Cl, F), LILE, REE and HFSE and consistent with compositions of natural and experimental examples of slab melting-derived magma. In the present case, however, melt was likely derived from melting of oceanic crust and carbonated sediments under conditions where Nb-rich mineral phases were not stable in the residue. A likely scenario for the origin such melts involves melting after subduction ceased as the slab thermally equilibrated with the asthenosphere. Melt-rock reactions due to ascent of hot, CO2-rich, siliceous melt to near-Moho depths triggered destabilization of amphibole and primary clinopyroxene, spinel, and possibly olivine. The resulting andesitic glass in melt pockets evolved to more mafic compositions due to mantle mineral assimilation but has heterogeneous trace element signatures mostly inherited from preexisting amphibole. The present example of melt-rock reactions between highly volatile-enriched siliceous slab-derived melt and peridotite from the upper part of the lithospheric mantle ultimately produced derivative melt with major element composition akin to calc-alkaline basaltic andesite, with generally low trace elements concentrations but selective pronounced enrichments in LILE's such as Ba, Sr, Pb.