The shale oil and gas resources are becoming one of the most important oil and gas exploration targets in China. The Junggar Basin is a classical example of the overlapped basins that developed in northwest China. The Jurassic source rock that developed in its main hydrocarbon generating depression is studied and compared with the typical Barnett shale that developed in the Fort Worth Basin, North America, to show its shale gas exploration potentials. All of them are comparable with the Barnett shale in the following four aspects: ① The scale of source rocks is slightly larger. Three sets of source rocks were recognized in Fukang Sag, namely, the Badaowan Formation of the lower Jurassic (J1b), the Sangonghe Formation of the lower Jurassic, and the Xishanyao Formation of the middle Jurassic. The total thickness is >950 m, which is greater than that of the Barnett shale. ② All of them are characterized by humic prone organic type that falls within type Ⅱ2 and type Ⅲ source rocks. ③ The abundance of organic matter measured in TOC falls within 1.2 %~2.5 %. The lower limit is a little bit lower than that of the Barnate shale, but the abundant coal beds (thickness >20 m for a single bed) seems to compensate for that. ④ The maturity falls within the window of gas generating with the Ro= 1.6 %. Based on the above geologic evidences, the total residual hydrocarbon in the source rock is estimated to be 87.46 billion tons, indicating a great shale gas exploration potential in the Junggar Basin.