Research on weathered crusts on carbonate rock is essential for paleoenvironmental studies in karst areas. Terra rossa, widely distributed in tropical karst areas, has not been studied in terms of its material sources and geochemistry. Two typical terra rossa profiles on dolomite (SC profile located at Sang Cai, Hoa Binh province) and limestone (TG profile located at Tong Gia, Lao Cai province) in Northern Vietnam were selected to examine the geochemical characteristics and the evolutionary processes of rare earth elements (REEs). Chondrite and bedrock normalized patterns indicated that these two profiles are in situ weathering crusts, meaning they are the residual material remaining after chemical weathering of the lower carbonate rocks. The average value of total REE in the SC profile is 381.19 ppm, which is 30 times higher than the bedrock. In the TG profile, the value is 386.26 ppm, 13 times higher than the bedrock. Compared with the profiles in nearby subtropical areas in Southeast China, the REE enrichment coefficients of terra rossa in Northern Vietnam are much higher. The REE depletion was also different between the SC and TG profiles. The light and heavy REE fractionations in the SC profile are higher than in the TG profile. Paleoclimate inversion analysis shows that the SC profile experienced a stable oxidation condition, whereas the TG profile was subjected to several reducing environments since a weathering crust formed.