Abstract: Based on the comprehensive study on core，seismic and logging data，the sequence stratigraphy framework is built up.The strata of the Member 2 and Member 1 of Shahejie Formation can be divided into two third-order sequences，including six system tracts with three different types：low stand system tract，extension system tract and high stand system tract.And the depositional evolution of the system tracts is analyzed.The braided fluvial delta and sand bar and beach of shallow-shore lacustrine are the main facies.The braided fluvial delta plain distributes on the outer belt of the slope，and along the middle belt of the slope the braided fluvial delta-front is widely developed during the Member 2 of Shahejie Formation.While the Member 1 of Shahejie Formation has experienced the largest transgression from the Paleogene，the delta deposit is obviously decreased.Intermediate stage of the Member 1 of Shahejie Formation ，the delta-front is developed only on the belt of Dabaichi，and the rest of the area is covered by source rocks.The braided fluvial delta-front sandbodies which include the sand bar and beach in Yanling and Xiliu，are in direct contact with oil generation depression and are the favorable exploration areas.

Key words: Raoyang Sag, Lixian Slope, Paleogene, sequence stratigraphy, sedimentary evolution