The NNW–SSE-trending extensional Río Grío–Pancrudo Fault Zone is a large-scale structure that obliquely cuts the Neogene NW–SE Calatayud Basin. Its negative inversion during the Neogene–Quaternary extension gave rise to structural and geomorphological rearrangement of the basin margin. Geological mapping has allowed two right-relayed fault segments to be distinguished, whose recent extensional activity has been mainly characterized using a deformed planation surface (Fundamental Erosion Surface (FES) 3; 3.5 Ma) as a geomorphic marker. Normal slip along the Río Grío–Lanzuela Fault Segment has induced hanging-wall tilting, subsequent drainage reversal at the Güeimil valley after the Pliocene–Pleistocene transition, as well as morphological scarps and surficial ruptures in Pleistocene materials. In this sector, an offset of FES3 indicates a total throw of c. 240 m, resulting in a slip rate of 0.07 mm a–1, while retrodeformation of hanging-wall tilting affecting a younger piedmont surface allows the calculation of a minimum throw in the range of 140–220 m after the Pliocene–Pleistocene transition, with a minimum slip rate of 0.07–0.11 mm a–1. For the late Pleistocene period, vertical displacement of c. 20 m of a sedimentary level dated to 66.6 ± 6.5 ka yields a slip rate approaching 0.30–0.36 mm a–1. At the Cucalón–Pancrudo Fault Segment, the offset of FES3 allows the calculation of a maximum vertical slip of 300 m for the last 3.5 Ma, and hence a net slip rate close to 0.09 mm a–1. Totalling c. 88 km in length, the Río Grío–Pancrudo Fault Zone could be the largest recent macrostructure in the Iberian Chain, probably active, with the corresponding undeniable seismogenic potential.