Sedimentary and tectonic evolution of the Neuquen Basin is divided into three stages: the syn-rift stage (Late Triassic-Early Jurassic), depositional systems of fluvial, lacustrine and pyroclastics are developed; the post-rift stage(Early Jurassic-Early Cretaceous), two large transgression and regression cycles are developed, marine and lacustrine sediments occur in bottom cycle, while fluvial delta sediment in upper cycle; and foreland one (Late Cretaceous-Cenozoic), dominated by compressional mechanism, marine and continental sediments are developed. Petroleum in this basin is mainly found in surrounding parts, but gas is in the center. They are dominated by structural-stratigraphic traps. Thrust belt in western basin and surrounding heavy oil belt in eastern basin could be favorable areas for petroleum exploration.