The reservoirs related to submarine fans will be in the forefront of the hydrocarbon exploration and production. Although many progresses have been achieved in the research of submarine fan depositon, much divergence still exists in terms of their geological concepts and depositional models at home and abroad. Based on the recent progress, and taken Zhujiang submarine fan system in Baiyun Depression, Pearl River Mouth basin for example, the characteristics of incised valleys and their infilling, channels, levee—overbank and lobes were described, and then characteristics of submarine fan sequence and the identification marks of sequence boundries were illustrated in detail in this paper.