Based on the geophysical identification characteristics, the mass transport deposits (MTDs) were found in the deep-water formations of the South China Sea. The sediment model of MTDs was built, and its significance for deep-water oil and gas exploration was discussed. The results show that MTDs are characterized by low amplitude, chaotic and translucent seismic reflection. MTDs are mainly mud-rich sediments and can usually be as excellent cover, and form deep-water trap cooperation with turbidity system. A little fraction of sand-prone MTDs can be a potential reservoir.