Continental shale oil has two types, low-medium maturity and medium-high maturity, and they are different in terms of resource environment, potential, production methods and technologies, and industrial evaluation criteria. In addition, continental shale oil is different from the shale oil and tight oil in the United States. Scientific definition of connotations of these resource types is of great significance for promoting the exploration of continental shale oil from “outside source” into “inside source” and making it a strategic replacement resource in the future. The connotations of low-medium maturity and medium-high maturity continental shale oils are made clear in this study. The former refers to the liquid hydrocarbons and multiple organic matter buried in the continental organic-rich shale strata with a burial depth deeper than 300 m and a R_o value less than 1.0%. The latter refers to the liquid hydrocarbons present in organic-rich shale intervals with a burial depth that in the “liquid window” range of the Tissot model and a R_o value greater than 1.0%. The geological characteristics, resource potential and economic evaluation criteria of different types of continental shale oil are systematically summarized. According to evaluation, the recoverable resources of in-situ conversion technology for shale oil with low-medium maturity in China is about (700–900)×10⁸ t, and the economic recoverable resources under medium oil price condition ($ 60–65/bbl) is (150–200)×10⁸ t. Shale oil with low-medium maturity guarantees the occurrence of the continental shale oil revolution. Pilot target areas should be optimized and core technical equipment should be developed according to the key parameters such as the cumulative production scale of well groups, the production scale, the preservation conditions, and the economics of exploitation. The geological resources of medium-high maturity shale oil are about 100×10⁸ t, and the recoverable resources can to be determined after the daily production and cumulative production of a single well reach the economic threshold. Continental shale oil and tight oil are different in lithological combinations, facies distribution, and productivity evaluation criteria. The two can be independently distinguished and coexist according to different resource types. The determination of China's continental shale oil types, resources potentials, and tight oil boundary systems can provide a reference for the upcoming shale oil exploration and development practices and help the development of China's continental shale oil.