Sequence stratigraphic correlation and interpretation are conducted on the middle submember (Es3z) of the third member (Es3) of Eocene Shahejie Formation in the Bonan Sag, Bohai Bay Basin, China. Integrative facies and paleo-environment analyses are carried out through the correlation study of wireline logs, seismic data and core sedimentology. The sedimentological interpretation reveals that sandstone units in the Es3z shows five different facies associations in both lateral and vertical successions developed in the inner and the outer delta front. These depositional microfacies include deposits in distributary channels, interdistributary channels, mouth bars and natural levees, and sheet sandstones. The Es3z sandstone intervals are characterized by five depositional sequences in terms of the third-order sequence including Es3z2+3, Es3z4, Es3z5, Es3z6+7, and Es3z8. They are found in all wells consisting of the lowstand, transgressive, and highstand systems tracts. These system tracts are separated by the maximum flooding surfaces and correlation boundaries of sandstones units with unique characteristics of well log motifs, calibrated with the cores by particular lithology. Facies and reservoir heterogeneities are defined within a sequence stratigraphic framework approach for hydrocarbon reservoir prediction. The reservoir facies architecture of sandstone units in the third-order depositional facies possesses the implication for hydrocarbon potential within the third member of Shahejie Formation in the Bonan Sag of Bohai Bay Basin. Our findings shed new light on the facies and reservoir heterogeneities which provide a useful aid for hydrocarbon exploration in the study area.