Oil and gas in source rock strata has become an important field in the world oil and gas industry with great potential for future development. In this paper, an in- depth interpretation of the geological formation conditions concludes that the reservoir properties and source rock properties fundamentally determine the technical path of successful development of oil- gas in source rock strata.Reservoir properties refer to the physical properties of oil and gas stored and percolated in the reservoir and their relationships. During the geological history, the micro- nano sized pore- throat- fracture system filled and accumulated a large area of continuous oil and gas resources. The fracture network system formed by artificial fracturing broke through the connectivity of tight reservoir and successfully developed large- scale oil and gas resources;breaking through the short board of fluid flow property may be another development.The properties of source rocks refer to the physicochemical properties and their relationships of hydrocarbon retention, conversion and expulsion, including converted residual oil and gas and unconverted residual organic matter, large scale of retained and potential hydrocarbon resources, underground artificial heating, etc.Reservoir properties and source rock properties are the internal potential basis to realize the scale development of source rock strata, and public property parameters are the external environment basis. Reservoir fracturing or hydrocarbon generating? The premise is to accurately study and determine which internal property parameters to choose, and the basis is to systematically integrate and optimize all external property parameters, so as to promote the commercialization and sustainable development of oil and gas in source rock strata.In future, medium and low maturity organic- rich shale, medium and high maturity gaseous- hydrocarbon- rich shale strata & oil shale, low metamorphic liquid- rich coal rock and deep gasified coal are strategic development fields worthy of expectation.