Based on the drilling test data and seismic data, the basin modeling technique is applied to reconstruct the pressure evolution history and hydrocarbon migration in the Moliqing fault-depression in the Yitong Basin. Three episodic accumulations and releases of pressure occurred in the Moliqing fault-depression, and the excess pressure evolution has a close relation to tectonic movements. The formation pressure distribution is characterized by normal pressure in almost the entire fault-depression with weak residual overpressure locally. The difference of pressure distribution is mainly caused by the rock facies, sedimentation rate, hydrocarbon generation and fault activities. The hydrocarbon migration is more active during the release of the pressure, which mainly happened during the Middle-Late Oligocene and provided the driving force for hydrocarbon migration.