Abstract: Coal is a solid combustible mineral, and coal-bearing strata have important hydrocarbon generation potential and contribute to more than 12% of the global hydrocarbon resources. However, the deposition and hydrocarbon evolution process of ancient coal-bearing strata is characterized by multiple geological times, leading to obvious distinctions in their hydrocarbon generation potential, geological processes, and production, which affect the evaluation and exploration of hydrocarbon resources derived from coaly source rocks worldwide. This study aimed to identify the differences on oil-generated parent macerals and the production of oil generated from different coaly source rocks and through different oil generation processes. Integrating with the analysis of previous tectonic burial history and hydrocarbon generation history, high-temperature and high-pressure thermal simulation experiments, organic geochemistry, and organic petrology were performed on the Carboniferous-Permian (C–P) coaly source rocks in the Huanghua Depression, Bohai Bay Basin. The oil-generated parent macerals of coal’s secondary oil generation process (SOGP) were mainly hydrogen-rich collotelinite, collodetrinite, sporinite, and cutinite, while the oil-generated parent macerals of tertiary oil generation process (TOGP) were the remaining small amount of hydrogen-rich collotelinite, sporinite, and cutinite, as well as dispersed soluble organic matter and unexhausted residual hydrocarbons. Compared with coal, the oil-generated parent macerals of coaly shale SOGP were mostly sporinite and cutinite. And part of hydrogen-poor vitrinite, lacking hydrocarbon-rich macerals, and macerals of the TOGP, in addition to some remaining cutinite and a small amount of crude oil and bitumen from SOGP contributed to the oil yield. The results indicated that the changes in oil yield had a good junction between SOGP and TOGP, both coal and coaly shale had higher SOGP aborted oil yield than TOGP starting yield, and coaly shale TOGP peak oil yield was lower than SOGP peak oil yield. There were significant differences in saturated hydrocarbon and aromatic parameters in coal and coaly shale. Coal SOGP was characterized by a lower Ts/Tm and C31-homohopane22S/(22S+22R) and a higher Pr/nC17 compared to coal TOGP, while the aromatic parameter methyl dibenzothiophene ratio (MDR) exhibited coaly shale TOGP was higher than coaly shale SOGP than coaly TOGP than coaly SOGP, and coal trimethylnaphthalene ratio (TNR) was lower than coaly shale TNR. Thus, we established oil generation processes and discriminative plates. In this way, we distinguished the differences between oil generation parent maceral, oil generation time, and oil production of coaly source rocks, and therefore, we provided important support for the evaluation, prediction, and exploration of oil resources from global ancient coaly source rocks.