The search for uranium deposits in the red beds is currently a hotspot in China's sandstone-type uranium exploration efforts. The typical occurrence of uranium deposits is within gray sandstone layers amidst the red beds, where the distribution of these gray sand bodies dictates the presence of uranium deposits. Hence, delving into the genesis of gray sandstone within the red beds proves beneficial for both uranium exploration and unraveling the ore-forming mechanisms. However, there is currently significant controversy surrounding the genesis of gray sandstone in the red beds. This paper focuses on the typical uranium deposit in the red beds—the HLJ-DL uranium deposit in the southwestern part of the Songliao Basin. It investigates the genesis of gray sandstone within uranium-bearing rock series and its relationship with uranium mineralization. The lithology of representative drill cores, including the red sandstone for comparative study, is methodically examined, along with their elemental geochemistry as well as carbon and oxygen isotope characteristics. The petrological characteristics suggest that both the gray and red sandstone share similar compositions of clastic particles, indicating minimal influence of the source rock on the sandstone color. The gray sandstone displays comparable TOC content (averaging around 0.05 %) and δ18OPDB values (averaging around −16 ‰) to the red sandstone. However, it exhibits relatively higher δ13CPDB values (averaging −0.26 ‰), whereas the average δ13CPDB value for the red beds is −1.61 ‰. The data indicate that the gray sandstone is less affected by hydrothermal or hydrocarbon fluids. Compared to the red sandstone, which has relatively higher Cu/Al values (averaging 1.09) and Fe3+/Fe2+ ratios (averaging 3.37), the gray sandstone exhibits low Cu/Al values (averaging 0.44) and a low Fe3+/Fe2+ ratio (averaging 0.36), suggesting its formation in a relatively reducing environment. The reducing conditions necessary for the formation of gray sandstone may stem from the climate becoming relatively warm and humid, irrespective of whether it originates from the original sedimentary environment or is induced by the reducing pore water discharged from dark mudstones. The chemical weathering index of fine-grained sediments indicates that, the gray sandstones were commonly configured in relatively humid-warm climate with fairly low dissolved oxygen content in the bottom water. Additionally, the deposition of the uranium-bearing rock series experienced alternating climatic changes, rather than consistently being in a humid-warm climate. This resulted in the sand bodies with low TOC content, insufficient reducing potential, and uranium mineralization primarily occurring in the interior of the basin. Organic matter has a relatively weak control over uranium mineralization, whereas uranium mineralization shows a certain correlation with iron reduction. The ore-forming fluid was uranium-rich oxygenated atmospheric water. Dark-colored mudstones, formed under humid-warm climatic condition, contain relatively high TOC contents (avg. 0.43 %) and exhibit a strong reducing capacity. The reducing pore water in dark-colored mudstones excreted into the adjacent sandstones under compaction during the early diagenesis, is able to serve as a vital reducing agent in later-stage uranium mineralization. Additionally, certain dark-colored mudstones with high uranium content (up to 944 ppm) undergo significant uranium pre-enrichment, providing a partial uranium source for uranium mineralization.