Abstract ––We have compiled maps of areal isotope composition changes and constructed graphs of gas HC distribution depending on the stratigraphic age of the host rocks and graphs of isotope composition changes depending on the depth of sampling to study the hydrocarbon potential of the deep-seated oil and gas pools of the South Caspian Basin. The genesis of gas was studied using the techniques elaborated by M. Schoell and A. James. Two stages of hydrocarbon formation have been established by study of various kinds of gas manifestation. The first stage (Miocene–Eocene) began in the deposits underlying the Productive Series and continued up to the deposits of the latter. This stage was characterized by a frequent change in the directions of both downward and upward movements of gases. The second stage of hydrocarbon formation (Anthropogene–Pliocene) began in the deposits of the Productive Series and was characterized by a change in the regional geodynamic setting. Avalanche sedimentation and the predominance of downward movements over upward ones favored the accumulation of thick sediments at the time when the Productive Series formed. The sedimentation and tectonic processes (downwarping) in the deep-water zone of the basin led to harsh thermobaric conditions in the sedimentary strata. A detailed analysis of the results of gas survey in the deep-water zone of the South Caspian Basin has shown gas generation with a predominance of two components, methane and ethane. Study of the trends of temporal and areal hydrocarbon migration and of the areas of oil and gas generation makes it possible to reveal structures with evidence for large and giant hydrocarbon reserves. We have established that gas hydrocarbons in the bottom and upper-section sediments of the southern Caspian Sea are intimately related to the sources of hydrocarbons, their migration, and other processes running in the deep-seated sediments and in the upper section.