Palaeozoic source rocks discovered in Qigu-1 well has undergone a complicated tectonic-burial history since they were formed. During this period, repeated hydrocarbon-generation evolution has been taken place. Based on the detailed study of the tectonic-burial history in combination with the analyses of fluid inclusions, and by means of the EASY%.R0 numerical simulation, the authors conducted research into the burial history, heated history and hydrocarbon-generation history of the Palaeozoic hydrocarbon source rocks in Qigu-1 well, and discuss their evolution process, tectonic episodes and the strength of hydrocarbon-generation. This study reveals that repeated hydrocarbon-generation processes took place in the Palaeozoic hydrocarbon sources mainly during the Hercynian - Indosinian and the late Himalayan. Moreover, it is concluded that the second hydrocarbon-generation of the Palaeozoic source rocks took place in the late Cenozoic. Finally, the paper points out that the Qik-ou Depression is a prospective area for oil and gas prospecting in the deep payers of the Palaeozoic in the Huanghua Depression.