Abstract: The Oligocene Huagang Formation is the main sandstone reservoir in the Xihu Sag, situated in the east of the East China Sea Shelf Basin. With an integrated approach of thin-section petrography, ultra-violet fluorescence microscopy, scanning electron microscopy, and isotope geochemistry, the different diagenetic features were identified, the typical diagenetic parasequences were established, and the diagenetic fluids evolution history were reconstructed for the Oligocene Huagang Formation sandstone reservoir in the south of Xihu Sag. The Huagang Formation sandstone reservoir is now in Period B of the mesodiagenesis, which has undergone significant diagenetic alterations such as mechanical compaction, Pore-lining chlorite cement, feldspar dissolution, quartz cementation and dissolution, and carbonate cementation. Three types of carbonate cements (early siderite, medium ferrocalcite and late ankerite) were identified in the Huagang Formation sandstone reservoir. The carbon and oxygen isotopic compositions of carbonate cements show that the early calcite precipitate from alkaline lacustrine environment whereas the late carbonate cements were closely related to the organic acids. To the Huagang Formation sandstone reservoir, it has experienced two main episodes of dissolution during diagenesis. The early dissolution is that unstable components such as feldspar, lithic fragments, and carbonate cement were dissolved by acidic water. The second dissolution is that quartz and other silicate minerals were dissolved under the alkaline condition. Two main phases of hydrocarbon charging occurred in this study area. The first hydrocarbon emplacement was prior to the medium carbonate cementation but posterior to feldspar dissolution and the onset of quartz cementation at the end of the Miocene. The second hydrocarbon charging occurred in the Quaternary period after the late carbonate precipitation.