This paper reviews the basic concepts of multicomponent seismology and how it can be applied to characterize hydrocarbon reservoirs, which is illustrated using 3D3C real data examples from onshore China. Hydrocarbon reservoirs formed from subtle lithological changes, such as stratigraphic traps, may be delineated from changes in P- and S-wave velocities and impedances. Hydrocarbon reservoirs containing aligned fractures are anisotropic. Examination of the resultant azimuthal variations of P-wave attributes and split shear-waves can give us better definition of their internal structures including fracture orientation, fracture density as well as their spatial distribution. Furthermore, frequency-dependent variations in seismic attributes derived from multicomponent data can provide us with vital information about fluid type and distribution. Current practice and various examples have demonstrated the undoubted potential of multicomponent seismic technology in reservoir characterization. Despite all this, there are still substantial challenges ahead. In particular, the data quality and efficiency of onshore multicomponent seismic acquisition, the improvement of converted-wave imaging and interpretation are major hurdles. All of these need to be overcome before multicomponent seismic exploration becomes a main stream technology.