The Southern Baikal region is situated close to the industrially highly developed part of the Irkutsk region and the Republic of Buryatia, which therefore makes its oil and gas potential profoundly relevant. The lack of discovered large deposits of oil and gas here can be explained only by the extremely low level of exploration maturity of the geological structure and its complexity. Meanwhile, the existing favorable preconditions indicate the occurrence of hydrocarbon deposits in this area. These include the presence of marginal depressions, within which thickness of the subsalt clastic section tends to increase, as well as the distribution of Vendian-Cambrian carbonate reef formations. The study of Riphean deposits is of particular significance, as they form here many kilometers-thick intervals with enhanced reservoir properties.Keywords: Baykal region, hydrocarbons, rift formations, oil and gas potential, seismic, electromagnetics.