The Junggar Basin is a large superimposed basin with multistage evolution. The Carboniferous volcanic rock in the middle‐lower part of the basin has been an important target of oil and gas exploration. Therefore, it is crucial to establish a set of efficient methods and techniques to find out the distribution of the Carboniferous volcanic rock and the tectonic factors related to the reservoir forming of the volcanic rock. Our research reveals that the density and magnetism of the Carboniferous volcanic rock are obviously higher than those of the Mesozoic and Cenozoic sedimentary rocks. With a series of frequency domain filters and boundary enhancement techniques, we determine the residual gravitational and magnetic anomalies caused by the Carboniferous volcanic rock. Combined with borehole and seismic data from the studied areas, the horizontal and vertical distributions of the Carboniferous volcanic rock are defined, and the lithologies of different types of volcanic rocks are predicted. Furthermore, the gravitational and magnetic anomalies are used to estimate the basement faults and topography. The regional deep faults and their secondary faults of the basement are outlined, and the model of basement relief is constructed. Finally, the effects of the fracture structure and the basement topography in the process of volcanic activity and hydrocarbon accumulation are fully discussed. These results provide fundamental information for optimal selection of the favorable area of volcanic reservoir.