Abstract: Condensate gas resources are abundant in Junggar Basin, of which the exploration degree is low. To expand the exploration area, this paper systematically analyzes geological and geochemical characteristics and geneses of condensate oil and gas in the basin, elaborates the distribution law of oil and gas reservoirs, and further points out the exploration direction. Research has shown that the condensate oil and gas are mainly from Carboniferous, Permian and Jurassic gas source rocks, characterized by the multilayered formations containing oil and gas. Structural-lithologic gas reservoir plays a dominant role; the reservoir property is mainly characterized by low porosity and low permeability. Based the origins, condensate gas reservoirs can be divided into the thermogenic oil and gas type of the same source and the gas invasion type of different sources. High-mature and post-mature hydrocarbon kitchens play a decisive role in the distribution of condensate oil and gas; faults play a good role in the vertical adjustment for oil gas migration and accumulation; the dominant sedimentary facies belt plays a role in local control for the scale and distribution of oil/gas accumulation. The western Well Pen-1 sag and its surroundings, west slope of Shawan sag, middle section of southern thrust belt, Dishuiquan-Wucaiwan hydrocarbon source trough and its surroundings, as well as Dongdaohaizi-Jimusaer hydrocarbon source trough and its surroundings are favorable areas for the exploration of condensate gas reservoirs in Junggar Basin.