Dinan uplift of Junggar Basin is an important hydrocarbon accumulation zone in Ludong area with better hydrocarbon source and good reservoir-cap configuration，where industrial oil flow has been discovered in several strata from Carboniferous to Cretaceous. But the Cretaceous was lack of systematic research. Cretaceous Qingshuihe Formation has been correlated and divided in detail based on seismic data and logging data from 60 wells guided by sequence stratigraphic theory，and then its sequency stratigraphic characteristics，sedimentary characteristics and evolution were analyzed. The research results show that the Qingshuihe Formation can be divided into K1q1，K1q2，K1q3，K1q4 and K1q5 from bottom to top，and basal conglomerate strata in the K1q1-K1q4 distributed diachronously. The Qingshuihe Formation was identified as a third order sequence which consists of LST，TST and HST from bottom to top and forming a complete set of lake level change cycle. Braided river delta facies and lacustrine facies were identified and provenance changed from north-west to south in a plane. Good reservoir conditions in the braided river delta and diachronous distribution of basal conglomerate provide favorable conditions for hydrocarbon accumulating in stratigraphic and lithologic reservoirs. The basal conglomerate distributed along four overlap pinching out belts in the K1q1 to K1q4 could be regarded as next exploration targets.