The existing economic evaluation index system of oil-gas exploration project lacks environmental efficiency index and social efficiency index, and has no definite risk index. This paper analyzed the existing economic efficiency indexes, added the social efficiency and environmental efficiency indexes. These indexes can efficiently reflect the project’s difference, moreover, the data can be obtained easily. This paper designed the indexes, which can weight project geology risk, the project risk and the economic risk. These indexes composed a systematic and comprehensive system of oil-gas exploration project economic evaluation index. This index system can reflect the project characteristic from different angles, and provide the policy-making reference for the policy-maker.