Based on seismic geologic interpretation, three series of fault systems are classified in Central Depression (deep water area) of Qiongdongnan Basin with integrated characteristics of faults position, attitude, morphology and structural types: (1) Ledong-Lingshui extensional S-trending fault system, (2) Beijiao-Songnan-Baodao extensional N-trending fault system and (3) Baodao-Changchang transtensional strike-slip fault system. The formation an d evolution of faults mainly control the distribution of hydrocarbon-generating depressions and the development of reservoir sand bodies, which provides various traps with major pathways favorable for hydrocarbon migration. It is believed that the favorable plays are located in the trap belt between Lingshui Sag and Beijiao Sag, the southern fault belt in Baodao Sag and the trap belt in the west of Changchang Sag.