On the basis of regional geological and tectonic features of the South China Sea and evolution characteristics of its surrounding basins combined with the theories of basin classification, thirty five Meso-Cenozoic basins of the South China Sea and its surrounding areas are classified into two groups and eleven types. The oil-gas geological features show that different types of basin have quite different hydrocarbon potentials. According to the analytic results, those formed in the intraplate extensional divergent setting have the best hydrocarbon potentials, and are presently the key areas for hydrocarbon exploration and development.