Following the analysis of cores, outcrops, well log, and seismic sections, we have studied the seismic reflection configuration and depositional history of the hydrocarbon-rich Yanchang Formation in the Ordos Basin. We divided the seismic reflection configurations into five types: subparallel reflection, parallel reflection, tangential progradational reflection, shingled progradational reflection, and chaotic reflection. Based on our study results, we concluded that the slopes exhibit differences in the different regions of the Ordos Basin during the sedimentary period of the Yanchang Formation: The slope with the largest gradient of approximately 10°–20° occurred in the southwestern basin, followed by the northwestern basin (with a slope of approximately 1.6°–3.3°), but the slope was relatively gentle in the northeastern basin (approximately 0.8°–1.2°). We also found that the paleocurrent direction of the basin mainly includes two directions: The paleocurrent direction of the southwest region is 186°–259°, which indicates the provenance came from the southwestern region, whereas the paleocurrent direction of the northeast region is 10°–79°, which indicates that the provenance came from the northeastern region. In addition, the Ordos Basin was under isostatic subsidence as a whole during this period, and its sedimentary infilling evolution underwent five stages: the initial depression, intense depression, progradational filling, uplifting and denudation, as well as shrinking and extinction stages, just corresponding with the Chang 10-Chang 9, the Chang 8-Chang 7, the Chang 6-Chang 4+5, the Chang 3-Chang 2, and the Chang 1 depositional age, respectively.