This work restored the erosion thickness of the top surface of each Cretaceous formations penetrated by the typical well in the Hari sag, and simulated the subsidence burial history of this well with software BasinMod. It is firstly pointed out that the tectonic subsidence evolution of the Hari sag since the Cretaceous can be divided into four phases: initial subsidence phase, rapid subsidence phase, uplift and erosion phase, and stable slow subsidence phase. A detailed reconstruction of the tectono–thermal evolution and hydrocarbon generation histories of typical well was undertaken using the EASY Ro% model, which is constrained by vitrinite reflectance (Ro) and homogenization temperatures of fluid inclusions. In the rapid subsidence phase, the peak period of hydrocarbon generation was reached at c.a. 105.59 Ma with the increasing thermal evolution degree. A concomitant rapid increase in paleotemperatures occurred and reached a maximum geothermal gradient of about 43–45°C/km. The main hydrocarbon generation period ensued around 105.59–80.00 Ma and the greatest buried depth of the Hari sag was reached at c.a. 80.00 Ma, when the maximum paleo–temperature was over 180°C. Subsequently, the sag entered an uplift and erosion phase followed by a stable slow subsidence phase during which the temperature gradient, thermal evolution, and hydrocarbon generation decreased gradually. The hydrocarbon accumulation period was discussed based on homogenization temperatures of inclusions and it is believed that two periods of rapid hydrocarbon accumulation events occurred during the Cretaceous rapid subsidence phase. The first accumulation period observed in the Bayingebi Formation (K1b) occurred primarily around 105.59–103.50 Ma with temperatures of 125–150°C. The second accumulation period observed in the Suhongtu Formation (K1s) occurred primarily around 84.00–80.00 Ma with temperatures of 120–130°C. The second is the major accumulation period, and the accumulation mainly occurred in the Late Cretaceous. The hydrocarbon accumulation process was comprehensively controlled by tectono–thermal evolution and hydrocarbon generation history. During the rapid subsidence phase, the paleo temperature and geothermal gradient increased rapidly and resulted in increasing thermal evolution extending into the peak period of hydrocarbon generation, which is the key reason for hydrocarbon filling and accumulation.