The Xuande Atoll, with a discontinuous reef rim caused by platform drowning, is a typical ellipse isolated platform on the northern slope of the South China Sea. Based on the data of drilling holes, the analysis of surface sediments and high resolution acoustic data, six sedimentary facies are identified in the Xuande Atoll, including reef outer slope, reef front, reef flat, aeolianite sand island, back-reef slope and lagoon. Facies map shows that the elevated reef-rimmed margins with islands are more noticeable on the windward of the platform. With an elevated and discontinuous reef-rimmed margin as well as coarse-grained sediment in the interior platform, Xuande can serve as a case of a leaky bucket atoll which is characterized by initially drowning scenarios. The facies architecture of the Xuande Atoll is evidently influenced by complex and interacting parameters including antecedent topography, sea level, wind-driven currents, water depth and tectonic subsidence. Different controlling factors exist in the drowning of the windward and leeward sides of the platform margin. The study of modern depositional settings in the Xuande Atoll will provide insight on predictions for ancient carbonate provinces.