Abstract: Systematic researches had been done on reservoir characteristics of basalts in Fangshenpao formation of Liaohe depression, while hydrocarbon exploration potential is discussed on the basis of observation and characterization of borehole core and thin sections, scanning electron microscopic analysis and reservoir property tests.Basalts of Fangshenpao formation are divided into two categories and six types of lithologies, which are furtherly classified into four lithofacies and ten subfacies, indicating being formed by subaerial magma effusive eruptions.Four categories and eight types of pore spaces are identified in basaltic rocks, among which there are primarily three types of effective porosities including partially filled and dissolved vesicles, contraction joints and tectonic fractures.Porosity of basalts are between 2.9% and 21.8%, and permeability ranges from 0.01×10^-3 μm² to 9.0×10^-3 μm², indicating medium-high porosity and low permeability.Reservoir properties of basaltic reservoirs are close related to zonation of vesicles and joints as well as intense dissolution adjacent to boundaries.Generally, proliferous intervals with good oil shows are from the top of Fangshenpao formation to the depth of thirty meters below, while compound lava flow of effusive facies and pyroclastic flow of explosive facies are two principle types of high-quality reservoirs which should be takes as major hydrocarbon exploration targets of the basaltic successions in the deep part of Liaohe depression.