Abstract: In order to evaluate the exploration potential of shale gas in Cambrian Niutitang Formation in Baojing area of Hunan Province, using the data of field geological survey and gas well exploration results, combined with drilling core sample test results, the authors studied the reservoir characteristics and distribution of Niutitang Formation in Baojing area of Hunan Province. The black shale, dark grey mudstone and dark grey calcareous siltstone of passive continental margin deepwater shelf was deposited at Lower Cambrian Niutitang Formation in Baojing area of Hunan Province. The shale layer was stable in distribution, large in thickness (90 m), high in organic matter (1.48%~3.49%) with I type kerogen, high in maturity (3.90%~4.86%) at over mature stage. The content of brittle minerals in reservoir was high (38.4% ~ 50.5%), and it had better fracture potential. Diagenesis was deeper and clay minerals were mainly illite and illite mixed layers. The shale porosity was medium (0.50%~4.24%), and the permeability was very low ((0.0005 ~ 0.0146)×10^-3 μm²). The reservoir spaces included crystal faces corrosion pores of crystal minerals, mineral marginal dissolution pores, organic matter dissolution pores, pyrite intergranular pores, cleavage joints by diagenesis and structural fractures. Through comprehensive analysis, the authors believed that Niutitang Formation in Baojing area of Hunan Province has good geological condition of shale gas and the fracture developed area can promote shale gas accumulation, so exploration efforts in Angdong-Zebi area in eastern Baojing County showld be increased.