The Carboniferous is one of the most important marine strata which contain oil and gas in South China. The conditions of generating oil and gas of the Lower Carboniferous are better than those of the Upper Carboniferous, and this is related to larger area of basins in the Early Carboniferous. The conditions of generating oil and gas of the underlying Silurian and the overlying Permian are better than those of the Carboniferous. The reservoiring conditions of the Upper Carboniferous are better than those of the Lower Carboniferous, which is related to the widespread distribution of dolostones and bank limestones of the Upper Carboniferous. The direct capping bed of Carboniferous oil and gas pools is the Liangshan Formation which is the lower part of the Lower Permian, and the regional capping beds are the Mesozoic and Cenozoic which mainly consist of mudstones. The assemblage of generating, reservoiring and capping conditions of the Carboniferous in South China is favorable. But the marine strata of the Carboniferous as well as the whole Palaeozoic and Triassic in South China had all undergone several large tectonic movements. The conditions of oil and gas accumulation were destroyed to a large extent. The relatively large Mesozoic and Cenozoic basins with favorable assemblages of generating and reservoiring of oil and gas,favorable regional capping and favorable preserving conditions, especially the areas near the source rocks of the Carboniferous itself and the Silurian, are favorable places to find new Carboniferous oil and gas pools.