The Jiaolai basin was formed in the rapid exhumation processes of the Sulu orogenic belt and Jiaobei terrane. Its evolutionary processes played a key role in constraining exhumation and denudation of the Sulu orogenic belt and Jiaobei terrane and destruction of the north China Craton (NCC). In this work, we took the Yangjiazhuang Formation of the Laiyang Group, which is located in the eastern margin of the Jiaolai Basin, as the research target to carry out systematic field geological survey, petrographic analyses, detrital zircon U-Pb dating and whole rock element measurements. Based on the systematic studies on the Yangjiazhuang Formation, we can draw the following conclusions: (1) the sedimentary age of the Yangjiazhuang Formation is well-defined between 125 and 115 Ma, belonging to the Apian stage of the Early Cretaceous; (2) the geochemical features of the mudstone revealed that provenance of the Yangjiazhuang Formation experienced relatively weak chemical weathering, and primary sedimentation played a key role, and the upper continental crustal (UCC) materials were the dominant provenance; (3) change of the sedimentary provenance of the Yangjiazhuang Formation and diversities indicated that the Jiaobei terrane was the other important provenance during the middle-late stages of sedimentaion besides the Sulu orogenic belt. Combined with the regional tectonic background, we propose that the rapid uplift and exhumation of the Sulu orogenic belt and Jiaobei terrane might have a close relationship with the crustal large-scale extension and thinning due to the destruction of the NCC.