Abstract: Shale porosity measurements have crucial scientific and economical applications in unconventional petroleum systems. As a standard technique, liquid saturation methods, including water saturation (WS) and oil saturation (OS), have been widely used to measure the porosity of many rock types. For clay-rich shale reservoirs with high organic matter content, it is well known that the WS method may cause clay swelling and induce structural changes in the pore system. The OS method affects the accuracy of porosity measurements because of some of the oil being dissolved by kerogen within the shale; however, this has not received sufficient research attention. In this study, we compare the previously reported and newly tested OS porosities with helium (He) expansion porosity. Results show that OS porosity generally exceeds the He porosity. Furthermore, the higher the total organic carbon (TOC) content and lower the maturity of shale, the greater the difference between the OS and helium porosities. When using the OS method, the effect of kerogen-dissolved oil causes an overestimation of the shale porosity by ∼30%. To the best of our knowledge, this is the first time to note the kerogen-dissolve oil effects on OS porosity. Herein, we propose a new, simple, and effective correction method for estimating OS porosity that involves subtracting the kerogen-dissolved oil content from raw OS porosity. In addition, the quantification model of kerogen-dissolved oil capacity is established, taking into account the abundance and maturity of organic matter. Taking the He porosity as the benchmark, the absolute error of the corrected OS porosity does not exceed 1% and the average relative error is only ∼10%. The obtained results can help improve the accuracy of shale porosity evaluation methods.