Abstract: As Panjin city is an important petroleum resource-based city in China, the industrial structure adjustment and optimization is becoming the key point. By analyzing the development of Panjincity's industrial structure since it was founded, the principle of Panjincity's industry conversion has been confirmed: increasing petroleum resource industrial domination, developing continued industries and alternative industries with Chinese characteristics and depending on the harmonious oil-land relationship. By these ways, the industry conversion can be successful.