Abstract: Jiyang depression is a typical continental faulted basin in eastern China, of which the Cenozoic Paleogene Shahejie Formation deposited a thick set of shale with low-medium maturity. Whether the shale oil can be effectively produced is crucial for understanding the potential of similar types of shale oil. The paper systematically studies and evaluates the lithologies, reservoir capabilities, and oil-bearing properties of more than 50 cored wells, and compares the differences in shale oil characteristics between different basins. The results indicate that the saline lacustrine basin of shale oil in Jiyang depression has a high carbonate content; various scales of fractures are developed in faulted basins; the reservoir space is dominated by inorganic pores and fractures due to a low degree of thermal evolution; the reservoir properties are good, and the flow capacity of crude oil is poor. Based on the geological characteristics of shale oil in Jiyang depression, this paper proposes a stereoscopic development technology focusing on the comprehensive stereoscopic evaluation of sweet spots, stereoscopic well pattern optimization design, stereoscopic fracturing optimization design, as well as the whole process optimization and control. Moreover, three stereoscopic development models have been established, including synchronous production of integral fracturing, step-by-step production by fracturing in batches, and stereoscopic scrolling development. Breakthroughs have been achieved in the pilot test of the field, confirming the broad development potential of shale oil with low-medium maturity.