Based on detailed studies, this paper proposes that in the Tarim Basin, hydrocarbon reservoirs widespread either in vertical sequences or in plane and high-porosity and high-permeability reservoirs are developed all over the basin. However, obvious difference and heterogeneity exist among different kinds of reservoirs. The lithologic characteristics, reservoir space types and reservoir properties in various strata have been probed. The result indicates that although the Paleozoic carbonates have been deeply buried for a long period, high-quality reservoirs with the porosity of up to 5%-8% (12% as the maximum) and the permeability of 10×10?3-100×10?3 ?m2 (1000×10?3 ?m2 as the maximum) can be found in certain areas. These include the area with the development of reefs and carbonate beaches, the weathered-crust buried-hill belts that have undergone the long-term exposure, weathering and leaching, the area with the development of dolomitization, and those areas that have experienced the resolution of carbonic acid and organic acid generated by the maturity of the organic matter. Finally, the genesis of the high-porosity and high-permeability reservoirs in deep-buried conditions (with the depth more than 3500 m) have been investigated thoroughly.