Abstract: According to the measured and collected geochemical data, the hydrocarbon source rocks of the Well Pugu 2 are discussed in this paper. Organic matter abundance, organic matter maturity, pyrolysis yield index and the hydrocarbon-expulsion threshold were selected as the standards for source rock evaluation. Results show that the No.3 buried-hill has enough source rocks with high content of organic carbon. The organic matters dominated by types Ⅱ₁ andⅡ₂ have passed into the mature-high mature phase to different extent. Our study indicates that the Nanpu No.3 burried-hill has enough capability to generate hydrocarbon, and thus can become an important exploration and development target.