In recent years, new breakthroughs have been made in the field of shale oil and gas exploration in the Lower Jurassic Lianggaoshan Formation in Sichuan Basin. At present, there is a lack of systematic studies on reservoir properties and sedimentary facies of the Lianggaoshan Formation shale. Therefore, in this study, taking the Lianggaoshan Formation in Sichuan Basin as an example, the sedimentary facies types of shale reservoirs and their control over shale oil and gas are systematically studied, based on a large number of outcrops, experimental testing, logging, and seismic interpretation methods. The results show that five sedimentary microfacies are developed in the Lianggaoshan Formation in the study area, namely, semi-deep lake mud, shallow lake mud, wave-influenced shallow lake mud, delta-influenced shallow lake mud, and underwater interbranch bay microfacies. The stratum thickness of the Lianggaoshan Formation is in the range of 26−315 m, and mainly distributed in the eastern region, but rapidly thinned in the northwestern region. The sedimentary sequence framework of the Lianggaoshan Formation has been constructed. Moreover, the lithology of the Lianggaoshan Formation shale has been divided into three types, including shale, massive mudstone and silty mudstone. The brittleness index and total organic carbon (TOC) value of three types of shale show a negative correlation. Silty mudstone has the highest brittleness, while that of black shale is the lowest. For porosity and permeability, massive mudstone is better than silty mudstone, and silty mudstone is better than black shale. There are many kinds of matrix pores in the Lianggaoshan Formation shale, and the development degree of inorganic pores is higher than that of organic pores. Finally, based on the analysis of oil-bearing, pore types, physical properties and productivity, it is considered that black shale facies is the most favorable lithofacies type. The deep−semi-deep lacustrine facies belt obviously controls the shale oil enrichment of the Lianggaoshan Formation.