This study considers the Upper Cretaceous Qingshankou Formation, Yaojia Formation, and the first member of the Nenjiang Formation in the Western Slope of the northern Songliao Basin. Dark mudstone with high abundances of organic matter of Gulong and Qijia sags are considered to be significant source rocks in the study area. To evaluate their development characteristics, differences and effectiveness, geochemical parameters are analyzed. One-dimensional basin modeling and hydrocarbon evolution are also applied to discuss the effectiveness of source rocks. Through the biomarker characteristics, the source–source, oil–oil, and oil–source correlations are assessed and the sources of crude oils in different rock units are determined. Based on the results, Gulong and Qijia source rocks have different organic matter primarily detrived from mixed sources and plankton, respectively. Gulong source rock has higher thermal evolution degree than Qijia source rock. The biomarker parameters of the source rocks are compared with 31 crude oil samples. The studied crude oils can be divided into two groups. The oil–source correlations show that group I oils from Qing II–III, Yao I, and Yao II–III members were probably derived from Gulong source rock and that only group II oils from Nen I member were derived from Qijia source rock.