In recent years, the exploration of oil and gas in China’s Precambrian strata has garnered significant attention, leading to notable advancements in exploration play assessment. However, there is a dearth of published literature on Proterozoic source rocks’ organic sources, sedimentary environments, marine hydrochemistry, and other attributes. This study focuses on investigating potential source rocks within the Hongshuizhuang and Xiamaling Formations in the Jibei Depression of North China. A comprehensive analysis was conducted to evaluate hydrocarbon generation characteristics, using hydrocarbon biomarkers and polar compounds as geochemical indicators for precursor biota and maturity levels. The results indicate high organic matter abundance with predominantly type I-II1 organic matter composition in the studied source rocks. These samples are at an immature–low mature stage, with the potential for primarily generating aromatic crude oil. The parent material is mainly attributed to lower aquatic organisms, such as bacteria and algae. The sedimentary environment exhibits marine facies, characterized by high evaporation rates, salinity levels, and strong euxinic conditions, that led to sulfur incorporation into the organic matter matrix. It should be noted that correlations between biomarker parameters and maturity may not be fully applicable to ancient source rocks; however, the methyldibenzothiophene ratio (MDR) demonstrates a strong correlation with Tmax. The compounds and their total monoisotope ions abundance (TMIA) were primarily identified and analyzed using FT–ICR MS. It was observed that these compounds were influenced by the depositional environment and organic matter maturity. Importantly, it was clearly demonstrated that the DBE and carbon number range of CH compounds gradually increased with maturity, due to the removal of N, S, and O functional groups. Specifically, N1 compounds predominantly consisted of carbazoles with short alkyl side chains which readily converted into N1Ox compounds. On the other hand, O1 compounds mainly comprised benzofurans with low abundance, indicating a reducing sedimentary environment, as suggested by their low TMIA values. Furthermore, S1 compounds were primarily thiophenes whose DBE range and carbon number increased with maturity, possibly suggesting an abiotic input of inorganic sulfur. Notably, the maturity indices (MAT) proved suitable for Mesoproterozoic source rocks while exhibiting strong linear relationships.