In January 2023, Well Bazhong 1HF in the northern Sichuan Basin obtained high-yield industrial oil flow of over 100 cubic meters from the Jurassic channel sandstone for the first time, realizing a major breakthrough. In order to provide more support for further oil and gas exploration in this area, this paper analyzes the sedimentary and reservoir characteristics of the Jurassic Lianggaoshan Formation in Bazhong region of northern Sichuan Basin and their control factors based on the exploration achievements of Well Bazhong 1HF. Then, oil and gas reservoir characteristics and oil and gas sources are comparatively analyzed. Finally, the key technologies for the exploration of channel sandstone oil and gas with multi-stage vertical superimposition, lateral migration, thin reservoir and strong heterogeneity are researched and developed, and the next oil and gas exploration direction in the Lianggaoshan Formation of northern Sichuan Basin is pointed out. And the following research results are obtained. First, in the second member of Lianggaoshan Formation (“Liang 2 Member” for short) in Bazhong region, multi-stage underwater distributary sand bodies of delta front are developed with sandstone thickness of about 25 m and average porosity of 5.6%. The pore types are mainly primary intergranular pores and feldspar/debris intragranular dissolved pores, the pore throat structure is good, and the development of good-quality reservoirs is controlled by the sedimentary microfacies of underwater distributary channel. Second, the oil and gas reservoir of Liang 2 Member is a highly oil-bearing condensate gas reservoir/volatile oil reservoir, whose oil and gas is mainly sourced from the semi-deep lacustrine shale of Liang 1 and 2 Members. Third, channel sand bodies are superimposed and developed continuously in the upper part of Liang 2 and Liang 3 Members, and the source-reservoir configuration is good, with the characteristics of near-source hydrocarbon accumulation and overpressure hydrocarbon enrichment. Fourth, for the channel sandstones with multi-stage vertical superimposition, lateral migration, thin reservoir and strong heterogeneity, the reservoir prediction technology of “high-frequency sequence stratigraphy slice, seismic frequency decomposition and facies-constrained seismic waveform indication inversion” is developed to precisely characterize the “sweet spot” target of narrow channel sandstone, and the key fracturing technology of “dense cutting + composite temporary plugging + high-intensity proppant injection + imbibition and oil-increasing” is formed to realize the large-scale reconstruction of channel sandstone reservoir. In conclusion, the breakthrough of Well Bazhong 1HF in the exploration of Lianggaoshan Formation oil and gas in Bazhong region reveals the huge potential of Jurassic oil and gas exploration in the Sichuan Basin, and plays a positive role in promoting the exploration and development of the Jurassic channel sandstone oil and gas in the Sichuan Basin.