Abstract:From the current exploration situation,Bohai Bay Basin belongs to exploration muture basin.Till now,8. 579 billion tons has been proved in Bohai Bay Basin.But according to the analysis of resources estimation,overall amount of resource is about 19 billion tons.The proved rate is only 45%.Therefore,there is much work left to do. Now exploration is mainly focused on Shahejie Formation in Paleogene.This paper will discuss the relationship of Paleogene source rock with hydrocarbon trap,the relationship of tectonic evolution with hydrocarbon trap and the possibility of oil and gas trap in the deep source rock (including Paleozoic).The exploration strategy in Bohai Bay Basin should be "checking up any information in the upper layer(Neogene),progressive exploration and develop-ment of middle layer(Paleogene)and exploring the deep layer(Paleozoic)".