To further understand the accumulation mechanism and distribution rules of deep basin oil, the laboratory physical simulation experiment is conducted for water-sealed oil in sand columns of different grain sizes, and the water-sealed oil mechanism and the accumulation threshold of deep basin oil are analyzed. Three “sweet spot” areas favorable for deep basin oil in the Songliao Basin are determined, namely south Liangjing area, east Haituozi area, and west Qian’an area. The predicted deep basin oil potential in these three areas is 0.317 billion tons. The total proved resources of deep basin oil in the Songliao Basin are 1.575 billion tons, with good exploration potential.