Exploration and development of shale gas in China have made significant breakthroughs in recent years. Longmaxi shales in the Xiang'exi depression are the key targets for shale gas exploration in the middle Yangtze region. However, systematic studies on the authigenic minerals and their application in shale gas enrichment evaluation are insufficient. Therefore, in this study, pyrite was selected to characterize its morphology, grain size, and distribution characteristics, with the hope to identify the favorable exploration target of Longmaxi shales in the Xiang'exi depression. Herein, 44 unweathered core samples were collected from well LD-1 for experiments. The results show that Longmaxi shales can be divided into four lithological segments from the bottom to the top. L4�high-carbon clayey shale facies and high-carbon siliceous shale facies, exhibits the characteristics of an anoxic environment with a medium pyrite content, due to the insufficient supply of ferric ions. L3�medium-carbon siliceous shale facies, shows the characteristics of a hypoxic environment, with enhanced terrestrial supply and increased pyrite content. L2�low-carbon siliceous shale facies, has the characteristics of an aerobic environment with strong terrestrial supply, leading to a low content of pyrite. L1�medium-carbon clayey shale facies, shows the characteristics of a hypoxic environment similar to L3 but with the highest pyrite content among the four segments. Further research shows that the presence of pyrite is conducive to the development and preservation of organic pores, and shale with a higher pyrite content shows larger gas content and desorption gas/total gas content ratio, showing a greater exploration and development potential. Combined comprehensive analysis concludes that in the Xiang'exi depression, L4 of the Longmaxi shale is the optimal exploration target segment, followed by L1, then L3, while the L2 segment shows the lowest exploration potential.