Abstract: The Baiyun Sag of the Pearl River Mouth Basin is a key deepwater hydrocarbon exploration target in the region. However, the distribution pattern of deep reservoirs remains unclear at present. Based on drilling, core and seismic data, we found three types of important reservoirs in the sag. The distribution pattern of reservoirs is discussed in this paper for further clarify the deepwater hydrocarbon exploration strategy in the Pearl River Mouth Basin. The results show that:1) sandbodies of deep-water fan are well developed in the deepwater area of the Pearl River Mouth Basin, shelf-margin Delta and Dongsha platform-margin slope fan; 2) In the development stage of gentle slopes, reservoirs mainly occur near the shelf-slope break belt, characterized by sandbodies of shelf-margin deltas and deepwater fans; at the development stage of steep slopes, submarine canyons that connect the shelf and the slope, are developed. As the results, reservoirs are mainly developed below the shelf-slope break as typical deepwater deposits. 3)It is suggested that the deepwater exploration targets of the basin be putting on shelf-margin deltas, deepwater fans and platform-margin slope fans in SQ23.8, deepwater channels, fans and shelf-margin deltas in SQ21, and the sandbody of deepwater fans and channels in SQ13.8.