Possible mechanisms of rifting and the thermal regime of the lithosphere beneath the rift zone of the Vilyui sedimentary basin are considered based on the available isotopic ages of dike swarms, rates of sedimentation, and results of numerical modeling. Temporal correlations between the intrusion of mafic magma and a sharp increase in the rate of subsidence and sedimentation in the rift basin prove the contribution of both plate-tectonic and magmatic factors to the formation of the Vilyui rift. The results show a relationship between the rapid extension of the lithosphere and the formation of mafic dike swarms in the Yakutsk–Vilyui Large Igneous Province of the Siberian Platform at the Frasnian–Famennian boundary, with a peak at ~ 374.1 Ma, and at the end of the Late Devonian, with a peak at ~ 363.4 Ma. There were two pulses of dike formation during rapid subsidence of the basin basement in the period 380–360 Ma, with a sedimentation rate of 100–130 m/Myr, at a background rate of 10–20 m/Myr. Analysis of numerical thermomechanical models revealed that the best-fit model is that combining the mechanisms of intraplate extension (passive rifting) and the ascent of a mantle magmatic diapir (active rifting). A conclusion about the nature of the heat source of trap magmatism has been drawn: The plume-driven regime of the lithosphere can better explain the dynamics of extension during rifting than the decompression melting mechanism.