Abstract: Lacustrine carbonate rock is widely developed in the Paleozoic and Meso-Cenozoic continental sedimentary basins in China. Oil and gas exploration has confirmed lacustrine carbonate rock is hydrocarbon source rock and reservoir rock. By the end of 2012, a total of 63 oil and gas fields of lacustrine carbonate rock have been proven in Sichuan Basin, Bohai Bay Basin and Qaidam Basin since the discovery was made in Sichuan Basin in 1956. The proven oil in place reached 5.97×10⁸t. Development and distribution of China^’s onshore lacustrine carbonate rock is controlled by a number of factors, such as structural background, paleo-climate, sedimentary source recharge and marine invasion, with development of two main types of lacustrine carbonate rock – reef and complex lithology. Generally speaking, the petrophysical properties of reservoirs are poor, except for reef reservoirs. They are typical compact oil reservoirs. Reservoirs of lacustrine carbonate rock are often interbedded with hydrocarbon source rock and have good conditions for hydrocarbon accumulations. Hydrocarbon abundance is controlled by sedimentary facies, fracture development and structural location. It is difficult to predict the sweet spot. Compact oil reservoirs mainly composed of lacustrine carbonate rock are extensive distributed in China with a great potential for resources. Assessment indicates that the distributed area exceeds 10×10⁴km² while the amount of geological resources is 57×10⁸t, showing a promising prospect for exploration and development.