Abstract: Multi-wavelet seismic trace decomposition and reconstruction is a new kind of seismic trace decomposition technology, which separates the seismic traces into a series of wavelets with different shape and different frequency using the decomposition algorithm. By applying the multi-wavelet seismic trace decomposition and reconstruction, study on frequency spectrum attenuation and volume based waveform decomposition processing on the seismic data which represents the oil reservoirs in Huagang formation was carried on, those attributes which have the distinct geological meaning and good relativities with wells were found out, and hydrocarbon bearing area in different reservoir were clearly portrayed.