Abstract: The characteristics of high-resolution sequence stratigraphy and the different grade sequence interface and laucstrine flooding surface in H₂ Member of Permian Pingdiquan Formation of Huoshaoshan Oilfield with high water-cut were studied by comprehensive analysis of cores, well logs, FMI logs data. According to the identification sign of the sequence interface and flooding sedimentation, the fan delta deposition system of H₂ member was divided into eight short-term sequence cycles (SSC) and two middle-term sequence cycles (MSC). The vertical sequence, facies association, structure type and stacking pattern were discussed. The correlations of the characteristics of short sequence cycle with reservoir heterogeneity, water flood feature and distribution of remaining oil were studied. According to the high-resolution isochronous stratigraphic correlation of the turnround boundaries of different order base-level sequence including short-term and middle-term cycle sequences, the sequence and time stratigraphic framework were built by taking the scale of supershort-term base-level cycle as an isochronous unit. The facies-control stochastic modeling technique was used to build the fine geo-model of H₂ Member in the scale of sequence and time stratigraphic framework. The high-resolution sequence stratigraphy has a prospective application in the stage of deep development of high water-cut oilfield.