The Alpehue Hydrothermal Field (AHF) near the Sollipulli Volcano in the Southern Volcanic Zone of Chile shows promise as a significant geothermal resource. A comprehensive geothermal exploration survey was conducted, including the evaluation of hydrothermal gases, geothermometer calculations, and CO2 flux measurements, to assess the AHF's geothermal potential. Our results indicate that the hydrothermal gasses at the AHF primarily originate from primitive, mantle-derived sources, with some contribution from crustal sediments. Two different CO2 populations of fluxes were identified. One corresponds to the background emission related to the soil biological activity (mean ∼7.7 g·m−2·d−1), and the other, much more significant, emanates from an endogenous source related to the Alpehue hydrothermal reservoir (mean ∼461 g·m−2·d−1). Reservoir temperatures were calculated using gas geothermometry yielding average temperatures of 249 °C. The calculated heat flow rate of the AHF is approximately 3.3 MW and the heat flux corresponds to 156 thermal MW⋅km−2, which could be considered a medium geothermal potential comparable to other systems worldwide. Although further studies are needed to fully address its exploitability, this study presents favorable characteristics of the AHF that make it a promising avenue for further exploration.