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Abstract: The stratigraphic distribution and lithofacies features of the Guanyinqiao Member of the Upper Ordovician Wufeng Formation around the Sichuan Basin were studied based on the data of drilling, outcrops, rock minerals, geochemistry and logging. The stratigraphic distribution of the Guanyinqiao Member is generally dominated by sea-level variation. This formation is in conformable contact with the overlying and underlying formations inside and locally outside the basin and is locally lost outside the basin. The Guanyinqiao Member is usually composed of deep-water siliceous shale and calcareous and siliceous shale facies, similar to those overlying and underlying lithologies inside the basin; and composed of shallow marl facies or lost, greatly different from the surrounding lithologies in the conformable area outside the basin. The study confirmed that the lithofacies of the Guanyinqiao Member is of great significance to the identification of the reservoir properties of the Wufeng and Longmaxi formations shale gas and to the selection of shale gas. The exploration and development of shale gas is promising in the depressions in the south, east and northeast of the Sichuan Basin, where good reservoirs are developed. The zone where the Guanyinqiao Member is lost has no “sweet spot” formation and is risky in exploring shale gas. The reservoir quality and exploration prospect of the Guanyinqiao Member marl zones are between the two zones mentioned above. Key words: Sichuan Basin, shale gas reservoir, exploration risk, Guanyinqiao Member, stratigraphic distribution, lithofacies feature, sedimentary environment