Abstract: Chengdao Oilfield is the first equipped oil field found at shallow sea in the east of China, in which eight oil-bearing formations were found such as Archean group, lower Paleozoic, upper Paleozoic, Mesozoic group, Paleogene Shahejie group, Dongying group, Neogene Guantao group, and Minghuazhen group, showing a typical compound accumulation area of oil and gas. In the paper, the exploration history of Chengdao Oilfield is analyzed and the exploration status is studied. The structures of Chengdao Oilfield consist of drape in Neogene, overlap in Paleogene and buried hill in Pre-Tertiary. Lithologic- structural reservoir and lithologic reservoir found in drape of Neogene, which is characterized by high abundance, rich reserves, shallow buried reservoir and easy for exploration, is a main oil-bearing series. Although the quality of oil is good, reservoir of fault, faulted nose and roll anticline in Paleogene, reservoir of formation overlap, lithologic reservoir, faulted block reservoir in Pre-Tertiary, residual hill reservoir and reservoir of formation unconformity can not be explored well. According to the exploration status and geological study, the next exploration target of Chengdao Oilfield is discussed. Paleogene and Pre-Tertiary of Zhuanghai area, Paleogene and Neogene around depression of Chengbei are the next exploration targets.