In order to enhance the advantageous region forecast accuracy of the reservoir of the third member of Liushagang formation in Fushan sag，and considering the low quality of the seismic data and abundant information of the well drilling and logging data，this paper analyzes the lithological properties，physical properties，electrical properties and oiliness by means of core and logging data and confirms the reservoir of third member of Liushagang formation belonging to the medium porosity and medium-low permeability reservoir.The hydrocarbon enrichment is mainly controlled by the quality of the physical and lithological properties.The log interpretation models of lithological properties，physical properties and oiliness are set up with the logging data of natural gamma，interval transit time and resistivity，and these models are verified to be suitable for the study area.Finally，this paper determines the identifying standard of the effective thickness.The lower limit of the porosity and permeability is 6.3% and 0.202×10-3 μm2 respectively，and the lower limit of the resistivity and interval transit time are 10 Ω?m and 230 μs/m respectively.