On the basis of natural gas exploration in Xiangzhong Depression, the Yangjiashan anticline with active shallow natural gas was selected to carry out shale gas investigation. The results show that the shale in the lower part of Lower Carboniferous Tianeping Formation has large thickness and high gas content, which is of great significance for shale gas exploration. Based on the systematic study on the genesis of organic-rich shale and the physical properties of shale gas reservoirs in Tianeping Formation, combined with the thermal evolution simulation of medium-high maturity shale gas reservoirs in semi-open environment, the following understandings are obtained: (1) The organic-rich shale of Lower Carboniferous Tianeping Formation is the sedimentary product of seawater stratification and seabed anoxia caused by the violent climatic fluctuations in the Early Carboniferous in Lianyuan area, and has the characteristics of wide distribution and large thickness. (2) The extensive and intense Mesozoic magmatic events in central Hunan led to the obvious increase of shale maturity near the rock mass, which has changed the deep thermal evolution model of shale organic matter maturity increasing with burial depth, and have important influence on the evolution process of hydrocarbon generation and shale gas reservoir of the Lower Carboniferous organic-rich shale in Lianyuan area. (3) The experimental results of thermal evolution simulation of medium and higher maturity shale reservoir under semi-open system show that the crude oil generated by thermal decomposition of organic-rich shale will fill various pores of shale reservoir, resulting in the deterioration of physical properties of the reservoir. However, after entering the gas generation stage, the bedding fractures and organic pores of shale become wider and increase with the increase of maturity, which makes the physical properties of the reservoir significantly improved.(4)The organic-rich shales of the Lower Carboniferous Tianeping Formation in the Lianyuan Sag experienced the early Carboniferous to middle Triassic plutonic thermal evolution stage, the late Triassic to Cretaceous magmatic thermal evolution stage, and the oil and gas adjustment and reconstruction caused by two regional folds and uplifts in the Indosinian and early Yanshanian. Shale gas enrichment in Tianeping Formation is the result of favorable facies zones controlling reservoir and tectonic-magmatic activity controllingSaccumulation. The low concealed structures of the foot wall of the thrust nappe fault developed in Yanshanian period may be the most favorable exploration areas. S