About 60% oil and gas of the world is produced from carbonate rocks. Based on various data from 179 carbonate basins in the world, global distribution of Phanerozoic carbonates and the controlling factors were studied in this paper. Carbonates occur in every geological period, but the degree of development is different. In the Devonian, Cretaceous and Paleogene, carbonates were widely spread, while in the Silurian, Permian, Triassic and Jurassic, distribution of carbonates was limited. In different geological periods, carbonates are developed in different areas. Fluctuation of sea level is another important factor controlling the distribution of carbonates.