Abstract: As an important sedimentary phenomenon in (semi-deep) deep-marine and deep-lacustrine environment, the gravity flow sedimentation is widely developed in the inland lake basins of China. The accurate identification of gravity flow deposits is of great significance for both reconstructing paleo-depositional environment and guiding hydrocarbon exploration. Pingzhuang sag in Chifeng area of Inner Mongolia was selected as the research object, and diverse datasets were comprehensively utilized, including drilling core observation, thin section identification, grain size analysis, and logging data. The sedimentary features and types, the controlling factors of deep-water gravity flow deposit in the Lower Cretaceous Shahai Formation of Pingzhuang sag were studied. The results showed that the gravity flow deposit of the Lower Cretaceous Shahai Formation of Pingzhuang sag was mainly lithic arkose and the grain-size probability cumulative curve was a low-slope two-segment pattern and a broad and gentle upward arch. The gravity-flow sediments in the study area mainly consisted of three types, slump flows, debris flow and turbidite flow. The slump flow was primarily characterized by convolute bedding, sandy parcel in mud, intercalation of deformed and undeformed strata, sharp contact, mud parcel in sandy and floating clasts. Sandy debris flow was widely distributed in debris flow deposits, which was characterized by sharp contact, mudstone tear blocks, and flame-like structures. The distribution of muddy debris flow deposit was relatively scarce, with the main characteristics being sandy clumps and mudstone with irregularly distributed sandstone. Turbidite flow deposit was primarily characterized by incomplete Bouma sequence with normal graded bedding and a scoured bedding surface at the bottom. The abundant oil and gas indications have been revealed in the deep-water gravity flow sediments by MPD1 drilling. And logging data shows gas anomalies in 2 layers, with a maximum total hydrocarbon content of 16.55%. Core immersion revealed active bead-like bubbles. Well logging interpretation indicated a poor gas-bearing formation and a suspicious oil-bearing formation, with thickness of 10.2 m and 6.4 m, respectively. Comprehensive studies indicated that oil gas generation and migration occurred in Pingzhuang sag, with certain reservoir and preservation conditions, demonstrating certain oil gas exploration prospects. This study could provide references for subsequent oil gas exploration deployment in small to medium sized continental lacustrine basins.