Owing to the importance of serpentinites for planetary geochemical and geodynamic processes, there has been much work discerning the origins of their parent rocks, including distinguishing between serpentinites derived from a subducting plate vs. overlying mantle in exhumed subduction complexes. The island of New Caledonia (SW Pacific Ocean) provides a rare window into Cenozoic Pacific subduction processes. The island is unique in exposing both an exceptionally-preserved high-pressure, low-temperature subduction complex and one of the largest supra-subduction zone ophiolites in the world. Previous studies disagree on the origin of serpentinites in the subduction complex. In this study, we analyze twenty-three serpentinites from this subduction complex for whole-rock major and trace element geochemistry and stable isotope (δD, δ¹⁸O) compositions. Our data reveal two distinct groups of serpentinites: Group I samples in the northern portion of the complex are pervasively serpentinized, and exhibit enriched heavy rare earth element (REE) compositions and δ¹⁸O between +6.7‰ and +10.2‰. In contrast, Group II serpentinites in the south preserve relict orthopyroxene and olivine, and show depleted trace element compositions and comparatively lower δ¹⁸O values between +5.1‰ and +8.0‰. We interpret Group I serpentinites to derive from downgoing plate mantle, whereas Group II serpentinites derive from overlying mantle wedge, exhibiting remarkable similarity to the REE geochemistry of the structurally-overlying New Caledonia ophiolite. Our results establish the subduction complex in New Caledonia as an unusual natural record of the entrainment and exhumation of mantle from both the overlying mantle wedge and the downgoing plate in an oceanic subduction zone.