The Triassic Lower Karamay Formation (T2k1) is one of the main oil-bearing stratigraphic units in the northwestern margin of Junggar Basin (NW Junggar), China. Based on an integrated investigation of outcrops, well logs and seismic data of NW Junggar, the Lower Karamay Formation is subdivided into 2 sets, 6 beds and 13 layers. Also, it is considered that the alluvial fan, the braided river, the meandering river and the shore-shallow lacustrine were developed during the early period of Middle Triassic in Karamay districts I, III. The Lower Karamay Formation deposits the following 9 sedimentary subfacies: the lower fan, the middle fan, the upper fan, the braided channel, the overflow bank, the river flood of braided river, the meandering channel, the river flood of meandering river, the shore-shallow lacustrine. Seventeen microfacies such as the braided stream channel, the alluvial sand floodplain, the alluvial glutenite floodplain, the water channel, the channel bar etc. have been identified in subfacies as well. The thickness of strata is firstly up-thinning and then thickening upward to the top, it is a process from large-scale lacustrine transgression to partly lacustrine regression. Furthermore, the microfacies planar distributing law proves that the remaining oil may enrich along the margin of microfacies because of the planar microfacies changes. Therefore, this research is beneficial for searching remaining oil in NW Junggar and providing information to the project “The Secondary Exploration” of PetroChina.