After 50 years exploration, Tarim Basin is proved to be very rich in oil and gas resources, with 120.65×10⁸ t oil, and 14.7×10¹² m³ natural gas produced. Until now, more than 30 oil and gas fields have been found, including 12 large gas fields.The cumulate proved oil reserves are about 23×10⁸ t and the natural gas cumulate proved reserves are 2×10⁸ m³. Annual oil and gas production capacity has reached 3400×10⁴ tons of oil equivalent. The Tarim Basin is China's first big gas area and oil and gas production’s rapid growth region. In this paper, we reviewed recent progress in oil and gas exploration in the Tarim Basin,discussed hydrocarbon distribution patterns, illuminated the oil and gas resource potential, and pointed out future exploration directions. The results could be used for oil and gas exploration and research in this region.