The Damintun depression is one of the four depressions in the Liaohe basin in northern China, and is a rift basin developed in the Paleogene. This paper discusses in detail the characteristics of pressure and fluid potential of the Damintun depression based on a synthesis of the data from boreholes, well tests and seismic surveys. Data from sonic logs, well tests and seismic velocity measurements are used to study the pressure characteristics of the areas. From the sonic log data, shales can be characterized as normally pressured, slightly overpressured or highly overpressured; from the well test data, the pressure-depth gradient in oil-producing intervals implies hydrostatic pressure in general. Most seismic profiles in the Damintun depression are of sufficiently high quality for seismic velocities to be measured. The fluid pressures, excess pressures and pressure coefficients in 47 representative seismic profiles are predicted using formula calculation methods, and further transformed to fluid potentials. The resultant pressure profiles show normal pressure, moderate overpressure and intense overpressure increasing with depth. The pressure evolution can be divided into three stages as initial generation, partial dissipation and re-accumulation. Fluid potential is the principal factor controlling hydrocarbon migration in a reservoir. Its distribution varies with depth; above the T4 interface a gravity-flow dominates, whereas beneath it a compaction flow dominates. The development of overpressure in the Damintun depression has a crucial influence on the distribution of fluid potentials, which agrees with that of overpressure in general. The results of the fluid potential analysis indicate that the areas of Dongshenpu-Xinglongpu and the southwestern part of the depression are most favorable for hydrocarbon migration and accumulation.