Fine-grained peridotite xenoliths are rarely trapped in the basaltic rocks from the southeastern part of Jeju Island. Based on textural characteristics of the constituent phases showing uniform-sized, fine-grained tabular to mosaic grains with rare porphyroclastic relics, the studied samples can be defined as fine-grained, foliated porphyroclastic peridotites (FPP). Almost no significant difference among the FPPs in textures and major element compositions implies that the FPPs were derived from a structural domain, experiencing similar deformation events and deformation patterns. Moreover, the bimodal distribution with kink-banded porphyroclasts ($2{sim}3mm$) and stain-free neoblasts ($200{sim}300{mu}m$), straight to gently curved grain boundaries with triple junctions, interstitial melt pockets, and microstructures for migrating grain boundary suggest that the studied samples went through dynamic recrystallization (${pm}$ static recrystallization) in the presence of melt/fluid movement along foliation planes. No notable difference between the FPP and common protogranular xenoliths in major element compositions and geochemical evolution also implies that the FPP and protogranular xenoliths were from a similar horizon. Thus, the textural and geochemical characteristics of the FPPs reflects deformation events occurred at a localized and narrow zone within the lithospheric mantle beneath the Jeju Island. Although further detailed studies are necessary to define deformation events, the most possible process which could trigger deformation in the FPP in the rigid upper mantle was the ascending basaltic magma forming high-stress deformation zones. The suggested high-stress deformation zones in the lithosphere beneath the Jeju Island may be produced by paleo-faulting events related to the ascent of basalt magma before Jeju Island was formed.