Supercritical multi-source, multi-component thermal fluid is a heavy oil thermal recovery method independently developed by China National Offshore Oil Co., Ltd (Beijing, China). It uses waste liquid at the production end of the production well as the water source, the injection medium temperature exceeds 374 °C, 22.1 MPa, and all the produced flue gas is re-injected. Compared with steam huff and puff technology, supercritical technology has the advantages of high enthalpy value, high heat utilization rate, good oil displacement effect, and being green and pollution-free. In addition, its oil–water treatment cost is low, it can realize the reuse of organic matter, it has a good cost advantage of water treatment under the background of low carbon, and it is a thermal recovery method with great application potential for offshore heavy oil. Therefore, it is necessary to carry out research on the adaptability and application potential of supercritical multi-source, multi-heat flow thermal recovery technology in the sea. Based on the laboratory one-dimensional displacement experiment, this paper reveals the mechanism of heavy oil supercritical multi-source multi-component thermal fluid displacement and the contribution of supercritical components to the displacement effect, and establishes the supercritical multi-source, multi-component thermal fluid numerical simulation characterization method. Combined with the characteristics of offshore heavy oil reserves, the main control factors affecting supercritical multi-source, multi-component thermal fluid development were established by numerical simulation and orthogonal test methods, and the adaptive screening method of offshore supercritical technology was established. The application potential of 670 million tons of offshore heavy oil reserves was evaluated and sorted, and KL 10-2 oilfield was selected as the pilot test oilfield. The results show that supercritical technology has great advantages in oil displacement and water treatment cost reduction, and the results play an important guiding significance for the development of offshore heavy oil technology system and the iteration of new technology.