Abstract: The Block N in the Bonaparte Basin of Australia is an offshore exploration target with high drilling cost and exploration risk. The way to reduce the exploration risk as much as possible remains with the discovery of large traps. Therefore, the identification and evaluation of structural and lithologic traps have become a very important task. Based on the high-precision sequence stratigraphic framework established with 2D and 3D seismic data collected from the block, combined with the analysis of provenance directions, paleogeomorphology and spatial distribution of depositional systems, a depositional model for the lithologic traps is established in this paper. Through comprehensive study of post-stack attributes and pre-stack simultaneous inversion of the target horizon, the distribution patterns and oil-gas potential of the lithologic traps are predicted and evaluated using the seismic attributes such as P-wave velocity ratio (Vp/ Vs) etc. On the basis of the above work, we carried out the research again on the hydrocarbon accumulation conditions of the lithologic traps and the assessment of resource potentials. The resource scale of the block is substantially increased, which proves that the block is valuable for further exploration.