Abstract: In order to make out the relation between fracturing characteristics of Miaoxibei depression and hydrocarbon accumulation, the structural interpretation and drilling data have been used to carry out the systematical analysis of the geometry features and evolution characteristics of the Cenozoic fracturing. The results indicate the Miaoxibei depression has undergone the evolution processes of rift, depression and reversal. In different development stages, the singular and multiple tectonic stress such as stretching, strike-slipping and reversal have been undergone. The obvious fracturing characteristics show layered differences and interaction cutting laterally, and demonstrate various combination styles in space distribution. Different fracturing systems have different control on hydrocarbon accumulation. The structural framework and source rock are controlled by the basement fractures, the main traps are controlled by the cover faulting. Two suits of fracturing systems together formed the migration channel and the superimposed area on the plane is the favorable hydrocarbon migration and accumulation area.