Through the analysis of drilling, logging and three-dimensional seismic data, the sequence stratigraphic composition, source-to-sink system difference, sedimentary evolution, sand control mechanism and lithologic-stratigraphic trap model in hanging wall of Pinghu fault in PH slope overlap belt of Xihu Sag are comprehensively studied. The results indicate that: (1) The Pinghu Formation in the PH slope overlap belt is controlled by different genetic slope breaks such as erosion and flexural, and is divided into three third-order sequences (SQ1 to SQ3) from bottom to top. Among them, SQ1 is limited in distribution, and development of the lowstand system tract is controlled by the steep slope break of deflection, forming the fan delta system coupled with ancient valley and slope break, which is dominated by the nearby basement provenance of Mesozoic magmatic rock. SQ2 and SQ3 are widely distributed, and development of the transgression and highstand system tracts are controlled by gentle slope break of erosion, forming the delta system dominated by the distant basement provenance of Proterozoic metamorphic rock. (2) The slope break controls the sand body distribution, and the slope break trough under the flexural slope break is a restrictive landform, which controls the layer by layer accretion and overlap of fan delta sand body vertically overlaied in lowstand tract. The low-lying area under the erosion slope break is the place where the highstand tract delta sand bodies are distributed, and the sand bodies of delta front are superimposed and dsitributed contiguously on plane. (3) Under the control of system tract and slope break, three types of lithologic-stratigraphic trap models are developed. During the low stand stage, the fan delta front sand body overlaping stratigraphic traps blocked by the physical properties of bedrock and fan root are mainly developed under the flexural slope break. During the transgressive stage, the tidal sand bar and tidal channel lateral pinchout lithologic traps blocked by the mudstone in the flooding period are mainly developed. During the highstand stage, lithologic traps in distributary channels of delta plain controlled by erosion slope break, updip pinch out and lateral pinch out, are mainly developed.