Pure shales in the first member of Qingshankou Formation (simplified as Qing 1 Member) in the southern Songliao Basin, i.e., the semi-deep and deep lacustrine shales, are characterized by a high content of clay minerals and poor hydrocarbon mobility, making the development of shale oil difficult. According to the drilling and testing results, the shale of Qing 1 Member can be classified into 3 lithofacies, i.e., bedded argillaceous shale, laminated diamictite shale, and interbedded felsic shale. The TOC and brittle minerals control the enrichment of shale oil, of them, TOC controls the total oil content, in other words, the total oil content increases with the increase of TOC; while the laminae made up of brittle minerals contain a large number of bigger intergranular pores which are favorable enrichment space for movable shale oil. In consideration of the origins of the 3 lithofacies, two shale oil enrichment models are classified, i.e., the deep lacustrine high-TOC bedded argillaceous shale (Model-I) and the semi-deep lacustrine moderate-high-TOC laminated diamictite shale (Model-II). In the Model-I, the shale is characterized by high hydrocarbon generation ability, high total oil content, abundant horizontal bedding fractures, and vertical and high angle fractures locally; the complex fracture network formed by horizontal bedding fractures and vertical fractures improve the storage capacity and permeability of the shale reservoir, increase the enrichment space for movable oil. In the Model-II, the shale is characterized by good hydrocarbon generation ability and fairly high total oil content, and as the brittle laminae contain large intergranular pores, the shale has a higher movable oil content. Based on the two models, shale oil sweet-spot areas of 2880 km² in the southern Songliao Basin are favorable for further exploration. Aimed at the difficulties in reservoir fracturing of the lacustrine shale with a high content of clay minerals, the composite fracturing technology with supercritical carbon dioxide was used in the shale oil reservoir for the first time, realizing large-scale volume fracturing in shale with a high content of clay minerals and strong heterogeneity, marking a breakthrough of oil exploration in continental shale with a high content of clay minerals in China.