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• Summarizes two different Neoproterozoic plate tectonic environments. • Identifies four evolutionary phases of the Neoproterozoic basins. • Reviews the spatial and temporal changes in basin fill and distribution. • Evaluates the most conducive basin prototype and target regions for exploration. Based on a comprehensive review of published results, the plate tectonic setting of the Neoproterozoic basins in the Yangtze Craton can be summarized as evolving from the Qingbaikou convergent continental margin to the Nanhua-Sinian divergent continental margin. Four phases of basin evolution are identified in the Neoproterozoic Yangtze Craton based on the prototype basin classification scheme: a) the early Qingbaikou period (ca. 1000–820 Ma), with back-arc spreading basins on the western and northern Yangtze margins and the interior, and a retro-arc foreland basin on the southeastern Yangtze margin; b) the late Qingbaikou period (ca. 820–720 Ma), with back-arc spreading basins on the western and northern Yangtze margins and extensional down-faulted basins on the southeastern Yangtze margin and the interior of the carton; c) the Nanhua period (ca. 720–635 Ma), with rift basins on the southeastern, western, and northern Yangtze margins and the interior; and d) the Sinian period (ca. 635–541 Ma), with intracratonic rift basins in the interior of Yangtze Craton and divergent marginal subsidence basins on the southeastern and northern Yangtze margins. The temporal sequence and spatial distribution of the major prototype basins associated with the four stages of basin evolution in the Yangtze Craton were further identified. By comparing the petroleum exploration practices in China and abroad, this paper concludes that the Nanhua rift basins on the southeastern and northern Yangtze margins, the Sinian divergent marginal subsidence basins on the southeastern and northern Yangtze margins and the intracratonic rift basins in the interior Yangtze Craton were most conducive to source rock formation and are target regions for future oil and gas exploration. [ABSTRACT FROM AUTHOR]