The Permian Lucaogou Formation has developed mixed shale reservoirs, but there are few studies on the diagenetic facies, and the control effect of differential diagenesis on the reservoir capacity of shale oil reservoirs in this area is not clear. Therefore, shale samples of the Lucaogou Formation were systematically selected in this study, and through cast thin sections, field emission scanning electron microscopy, XRD mineral analysis, low-temperature nitrogen adsorption and high-pressure mercury injection experiments, the reservoir capacity of the shale oil reservoirs was evaluated from the perspective of diagenetic evolution. The results show that the shale oil reservoir of the Lucaogou Formation in Jimsar Sag is in the middle diagenetic stage A. The diagenetic evolution sequence is compaction—chlorite cementation—silica cementation—first-stage carbonate cementation—first-stage dissolution of authentic albite—illite/smectite mixed layer cementation—second-stage carbonate cementation—second-stage dissolution. The shale reservoirs are divided into five diagenetic facies: tuffaceous–feldspar dissolution facies, mixed cementation dissolution facies, chlorite thin-membrane facies, carbonate cementation facies and mixed cementation compact facies. Among them, the former two diagenetic facies have strong dissolution and weak cementation and are high-quality diagenetic facies, mainly characterized by large pore volume and good pore connectivity, with relatively low D2 values defined as the fractal dimension of mesopores. On the basis of the above research, three different control models of Lucaogou Formation shale oil reservoirs are proposed, including dissolution to increase pores, chlorite cementation to preserve pores, and strong compaction cementation to reduce pores. The quality of reservoirs developed in this model is successively high, medium, and low. This work can provide guidance for the fine characterization and grading evaluation of mixed shale oil reservoirs in saline lake basins and has important theoretical and practical significance for the prediction of shale oil “sweet spot” distribution.