Abstract: As exploration degree increases, stratigraphic-lithologic traps have become an important new field for oil and gas exploration in the Pearl River Mouth Basin. The formation conditions and development features of Neogene stratigraphic-lithologic traps were systematically investigated in this study. The basin has experienced several stages of sea level fluctuations ever since Neogene, resulting in the coexistence of multiple sedimentary systems. Two types of shelf edges and the corresponding low stand systems tracts as well as two significant tectonic movements provided favorable conditions for the development of stratigraphic-lithologic traps, which showed obviously different features in the continental shelf region and the shelf margin region. The intervals near to sequence boundary seem to have the most favorable potential. Oil and gas migration pathways play important roles in controlling final hydrocarbon accumulation.