It is well known that the existing horizontal-well-drilling and hydraulic fracturing technology used to achieve large-scale, cost-effective production from immature to low–moderate-maturity continental shale in China, where the organic matter mainly exists in solid form, is fairly ineffective. To overcome the obstacles, in situ conversion technology seems feasible, while implementing it in the target layer along with estimating the amount of expected recoverable hydrocarbon in such shale formations seems difficult. This is because there are no guidelines for choosing the most appropriate method and selecting relevant key parameters for this purpose. Hence, based on thermal simulation experiments during the in situ conversion of crude oil from the Triassic Chang 73 Formation in the Ordos Basin and the Cretaceous Nenjiang Formation in the Songliao Basin, this deficiency in knowledge was addressed. First, relationships between the in situ-converted total organic carbon (TOC) content and the vitrinite reflectance (Ro) of the shales and between the residual oil volume and the hydrocarbon yield were established. Second, the yields of residual oil and in situ-converted hydrocarbon were measured, revealing their sensitivity to fluid pressure and crude oil density. In addition, a model was proposed to estimate the amount of in situ-converted hydrocarbon based on TOC, hydrocarbon generation potential, Ro, residual oil volume, fluid pressure, and crude oil density. Finally, a method was established to determine key parameters of the final hydrocarbon yield from immature to low–moderate-maturity organic material during in situ conversion in shales. Following the procedure outlined in this paper, the estimated recoverable in situ-converted oil in the shales of the Nenjiang Formation in the Songliao Basin was estimated to be approximately 292 × 108 tons, along with 18.5 × 1012 cubic meters of natural gas, in an area of approximately 8 × 104 square kilometers. Collectively, the method developed in this study is independent of the organic matter type and other geological and/or petrophysical properties of the formation and can be applied to other areas globally where there are no available in situ conversion thermal simulation experimental data.