Five different kinds of basins in Permian System in SichuanGuizhouGuangxi region contain different stratigraphic sequences,so their hydrocarbon prospects are different.In general,transgressive system tracts(TST),condensed section(CS),highstand system tracts (HST)and lowstand system tracts (LST) of platform basin, deepwater basin and coalbearing carbonate formations of highstand system tract in cratonic basin and isolated carbonate platform are generally important source rocks and significant cap rocks .They include all kinds of favourable sandbodies in different system tracts:1.basin-floor and slope fans,delta front,alluvial fan,channel sandbodies,progradation complex,shoal-bioherm-reef complex,calcareous and mixed clastic turbidites within lowstand system tract;2.sandbodies of barrier beach,shoal,estuary,tide-controlled delta,fandelta,turbidity fan,lag sediment,bioherm-reef complex,pyroclast turbidite within transgressive system tract;3.river and wave dominated deltaic sandbodies,alluvial fan-channel sandbodies,fan-delta,turbidity fan,terrigeneous and carbonate shoals,bioherm-reef complex,calcareous-clastic beach-bioherm-reef complex,calcareous clastic turbidite and dolostone within highstand system tract;4.paleo-karst reservoir dominated by sequence boundary.