Exploration activity in NE Libya indicates the presence of hydrocarbon accumulations and shows in the Paleogene chalky limestone successions. The main objective of this study is to evaluate the hydrocarbon potential of Paleogene plays in the NE Libya with respect to the source rock, trap types and reservoir rock potential. Generally, the chalky limestone is one of the dominant carbonate rocks in the northeastern part of Libya and occurs as several different facies. The chalky limestone is well observed in the surface successions of the Paleocene rocks of the Al-Uwayliah Formation and Eocene rocks of the Apllonia Formation. It is also recognized in Paleocene and Eocene rocks of the cored interval samples and also interpreted from the composite logs of studied wells in the Soluq Depression. The chalky limestone in the investigated area can be divided into six facies based on the differences in sedimentary structures and general lithology, these are: (a) chalky limestone; (b) lithoclastic chalky limestone; (c) argillaceous chalky limestone; (d) dolomitic chalky limestone; (e) cherty chalky limestone; and (f) bioturbated chalky limestone. It is mainly characterized by white, cream, greyish brown mudstone to wackestone and rarely packstone textures. The allochems of the chalk facies are represented by planktonic and benthic foraminifera. Quartz, pyrite, glauconite, and apatite minerals, euhedral calcite, and dolomite crystals are also observed using scanning electron microscopy (SEM). Ichnofossils (e.g., Rhizocorallium and Skolithos) are common. Stylolite structures and dissolution seams as well as open and filled fractures with sparry calcite cement are commonly recognized. Porosity and permeability investigations of numerous samples suggest that the chalky limestone have high porosity and low permeability. However, as the chalk shows high micro-porosity, it could also be considered as potential reservoir rock provided that a fracture permeability exists. Total organic carbon (TOC) analysis suggests that the highly argillaceous chalky limestone in some parts of the area could be considered as a good source rock for hydrocarbon generation. The presence of gas accumulations and shows in the study area indicates that the source rocks in some areas has passed from oil to gas generative stages as a result of increasing burial.