A large-scale array of long-period magnetic data and a deep-probing magnetotelluric profile were recorded in the intracratonic Paraná sedimentary basin in central eastern South America, which presents a thick and extensive sedimentary-magmatic sequence that allows its basement to be investigated only by indirect methods. Integration of the results from both methods showed that the crust beneath the basin presents several quasi-linear highly conductive channeled zones with limited lateral extent, in coincidence with some of the main tectonic structures recognized at the surface, and a moderate but pervasive lithosphere conductivity enhancement beneath its central part. Upward movement of CO2-bearing volatiles and magmas precipitating highly conducting mineral phases along discrete subvertical fault zones that served as feeder conduits for Early Cretaceous voluminous continental flood basalts was a likely process responsible for the localized conductivity enhancements. Correlation between some of the linear conductive zones and elongated magnetic anomalies and between the maximum depth occurrence of most of these conductive anomalies and the Curie depth at which crustal rocks lose their magnetism gives strong support to interconnected iron oxides (especially magnetite) and iron sulfides (such as pyrrhotite) as the main conductive sources. The moderate bulk conductivity increase in the crust and upper mantle beneath the central part of the basin is unexpected for a postulated cratonic basement and is tentatively associated with impregnation of the lithosphere by conducting minerals related either to widespread tectonic events in the Ordovician or Late Precambrian or to dispersed magmatic residues of an Early Cretaceous magma differentiation contaminating the entire lithosphere.