Based on gas chromatography and gas chromatography mass spectrometry techniques, the authors studied molecular fossils characteristics of the Baishan Formation source rocks in Kushuigou, Ejin Banner, and analyzed the information and petroleum geological significance indicated by sources of organic matter, sedimentary environment, maturity and some other factors. The methyl phenanthrene indexes of Baishan Formation, which were effective molecular parameter indexes for measuring thermal evolution of organic matter, ranged from 0.36 to 0.67, and their conversions into vitrinite reflectance Rc ranged 1.9 to 2.1, corresponding well to the actually measured data, indicating that source rocks of Baishan Formation are at the over-mature stage of thermal evolution.