Saturated hydrocarbons are widely used in the valuation of source rocks and oils, but the applicability of related parameters has received less attention. Based on the thermal simulation experiments on Mesozoic source rocks in the Yingen-Ejinaqi Basin, and the GC-MS analysis of the saturated hydrocarbon fractions of the expelled oils and extracts from solid residues, the applicability of the parameters related to lacustrine source rocks and oil were discussed. The results indicated that: Controlled by thermal degradation, both the relative abundance of the tricyclic terpenoids in terpenoids and the pregnane (including L pregnane) in steroids increased with the increase in maturity. Maturity had little effect on some environmental parameters of lacustrine source rocks and oils, such as Pr/Ph and gammacerane index, they were still effective even at the high-over maturity stage. But maturity had a significant influence on the method of using saturated hydrocarbons to identify the source of organic matter, because only at the thermal stage of Ro < 1.45%, might it effectively identify the source of organic matter by using the dominant peak of n-alkanes method and the relative abundance of C27–C29 steranes method. Most saturated hydrocarbon maturity parameters had their valid scope of application, such as C29 20S/(20S + 20R) steranes, C29αββ/(ααα + αββ) steranes and C31αβ22S/(22S + 22R) homohopanes were only effective when the Ro value was below 2.06%, for the parameter’s value would be “inverted” in the stage of over-maturity (Ro > 2.06%). However, the parameter Ts/(Ts + Tm) was effective in the whole thermal evolution process, reflecting good applicability. This study clarifies the validity of the application of commonly used saturated hydrocarbon parameters, and it can provide some reference for relevant studies.