Abstract: Based on Weng’s cycle theory, a life?cycle prediction is performed with HCZ model for the growth trend of natural gas reserves in Junggar basin. The result shows that the peak of proven reserves will occur in the year of 2027 with the annual proven reserves of 268.49×l08 m3 and the corresponding proven ratio of 25.8%. Till the year of 2092, the cumulative proven reserves will be 1.42×l012 m3 and the cumulative proven ratio of resources will reach 67.52%. A series of analyses are conducted on natural gas resources and its exploration status and potential in Junggar basin. It is considered that the natural gas exploration of Junggar basin is still in its early stage and giant potential of resources remains to be explored; there are two directions and targets for petroleum exploration: the first one is to stick to looking for coal?formed gas around the areas with abundant humic parent materials such as the lower combination in southern margin of Junggar basin (the Middle?Lower Jurassic coal?formed gas), volcanic reservoirs in the hinterland (the Carboniferous coal?formed gas) and Zhongguai in the northwestern margin?District 5?8 (the Lower Permian Jiamuhe coal?formed gas); the second one is to conduct study on over?mature cracked?gas in the center of the basin so as to make a breakthrough as soon as possible