Abstract: At present, the geophysics in China is facing two serious problems: resources including metallic minerals, oil, natural gas, coal, and water and hazards(earthquakes, volcanoes, landslides, etc). To solve these problems, the kern portion of basic research in geophysics is the deepening cognition of the earth itself, i.e. the interior exchange of material and energy within the earth, the physics-mechanics-chemistry process in deep zone and its dynamics responses. Aimed at the supply and demand of oil and gas in China, the development prospect and the direction of basic research in geophysical exploration are probed. We must be aware that how urgently the mineral resources is needed by both China and the world and that the dependence of petroleum of China on the world.Only on the basis of this, can China establish a continual supply strategic energy reservation base under the condition of sharing the gas-oil resources of the world. Within such a framework, the petroleum geophysical prospecting in China has a broad development space. It should be advanced toward the second depth range beneath the surface( 5000—10000m), as well as the complicated and tough geological conditions, the lithofacies formation, especially the marine facies region. In the light of the national strategic requirement, comprehensive researches should be carried out on hydrocarbon generation and preservation form, such as geological structure, lithostratigraphy, volcanic region, marine facies, continental facies, marine-continental facies, organic and inorganic origins, and their relationship with hydrocarbon. Such topics should be comprehensively researched and integrated at a higher level on the basis of effective utilization of new and high technology results from other disciplines. By doing so, mechanisms of hydrocarbon generation can be clarified, reservoir distributions determined, and the exploration efficiency greatly enhanced, leading to an ordered development toward greater depths. It should be pointed out that among all these efforts, the independent innovation is of vital significance for final success.