This paper analyzes the group component, the saturated hydrocarbon chromatogram and the biomarkers of the crude oil of Paleogene Dongying Formation in the Wenliu area of the Dongpu Depression and the results show that the extractable matter, that is, saturated hydrocarbon from the oil sand of Dongying Formation occupies about 50%, and nonhydrocarbon and aromatic hydrocarbon occupies about 50%, and bitumen is usually <5%. The oleanane and the γ-wax alkanes are high reflecting the feature of unmature or low-mature oil under sedimentary environments with a high salinity. The analysis of the oil source expresses the intimate relationship between the mudstone of Member 3 of Paleogene Shahejie Formation in the west of Wenliu and the oil pools of Dongying Formation.