Based on a study of the sedimentary evolution, hydrocarbon generation conditions, reservoir conditions, source-reservoir-cap rock combinations and preservation conditions, the authors hold that there exist favorable petroleum geological conditions in Carboniferous-Permian strata of Hexi Corridor region, and Carboniferous-Permian are new strata worthy of attention. The shallow sea-alternative land and marine facies were mainly developed during Early Carboniferous to Early Permian period, forming several sets of hydrocarbon source rocks from Qianheishan Formation to Taiyuan Formation, which are mainly dark shale and carbonaceous mudstone, with the abundance of organic matter being intermediate to high, with the type belonging mainly to II~III, the evolution stage being mature-high mature, and the stage of hydrocarbon generation being after Cretaceous. Widespread oil and gas seepages and oil and gas shows of wells in Carboniferous-Permian strata provide evidence for hydrocarbon generation, migration and accumulation.