The comprehensive analysis of geological, well logging and seismic data have shown that Feixianguan Formation in Northeast Sichuan Basin is a medium-porosity and high-permeability excellent Reservoir, which is comprised of relic-oolith dolostone with reservoir space of fractures and pores. The logging curves of this reservoir are characterized of low values of gamma, speed and density and a high value of neutron porosity. The response of seismic reflection demonstrates the low wave impedance and medium -strong reflection amplitude, which is always characteristic of "bright spot". The vertical and horizontal distributions of the reservoir can be clearly outlined by the restrainted sparse pulse inversion. It is indicated that the research combination of geology with seismic facies is an effective method to predict the Feixianguan excellent reservoir.