The research of deepwater sedimentary systems in the Niger Delta basin is one of the key issues in hydrocarbon exploration in the world. According to the analysis of 3D seismic data, well, core, sedimentary structure and logs characters, depositional characteristics of deepwater systems are discussed on Neocene in the south of Niger Delta basin. Sequence stratigraphic framework is established based on identification of sequence boundary and 6third-order sequences are divided and named as SQ1-SQ6.The depositional models of deepwater sedimentary systems are established. Three kinds of depositional facies are identified in the deepwater sedimentary systems, namely, turbidite channel, submarine lobe and hemipelagic mudstones.