This study utilizes LA-ICP-MS-determined minor and trace element contents of megacrystic blocky K-feldspar to reveal the chemical variability and fractionation degree of albite-spodumene and barren feldspar pegmatites of the Kolmozero lithium deposit in the Kola region, Russia. K-feldspar from albite-spodumene pegmatite is represented by two generations: early microcline-I and late microcline-II. Rb, Cs, Li, and Tl are the most typical impurity elements in K-feldspar that replace K in its crystal lattice. Microcline-II differs from microcline-I: (i) relatively high contents of Rb (6520 and 4490 ppm, respectively), Cs (146 and 91 ppm), and Li (86 and 68 ppm), Tl (34 and 28 ppm); and (ii) low contents of Ba (13 and 29 ppm), Sr (8 and 24 ppm), and Pb (14 and 26 ppm). K-feldspar from feldspar pegmatites of the Kolmozero pegmatite field differs from those in the Kolmozero Li deposit in (i) low contents of Rb, Cs, Li, Tl, and an orthoclase component; and (ii) high contents of Sr, Ba, Pb, and an albite component. K/Sr, K/Ba, Rb/Ba, and Rb/Sr element ratios increase, while K/Rb, K/Cs, K/Tl, and K/Li element ratios decrease in K-feldspar, from feldspar pegmatites to albite-spodumene pegmatites. These trends reflect different fractionation degrees of pegmatite evolution. The implications of the detected trace element variations in K-feldspar are discussed in respect of tracing the rare element enrichments in pegmatite systems. A model is proposed for the formation of the Kolmozero pegmatites by differentiation from a hypothetical parental granite, rather than by anatexis of the host rock.