There are over 30 Cenozoic basins in Guangxi province. The main source rocks in Hepu, Nan- ning and Ningning Basins among them, as that in Baise Basin where some industrial oil and gas fields have been discovered, are middle Eocene deep and semi-deep lacustrine dark argillaceous rocks, which is characterised by wide distributing area, large sedimentary thickness and high abundance of organic matter. It is shown that most of TOC values are over 2.0,，which reaches to the "good" and/or "excellent" source rocks in the Evaluation Criterion of Organic Matter Abundance for Continental Source Rocks. Most of organic matter are in low mature stage and parts of are in mature stage. Kerogen commonly belongs to TypeⅡ1. Comprehensive analysis indicates that the former three basins possess of the foundation of good hydrocarbon-generating substance and also good conditions of accumulation and preservation so that they are of some oil and gas exploration potential. The organic matter is in low mature stage in Nangning Basin, Ningming Basin and Xichang Depression of Hepu Basin except for Changle Depression of Hepu Basin in mature stage. It is suggested that the exploration targets should focus on the basins or depression with the low maturity of organic matter.