Hyperpycnal flow deposits, one of the most important deep‐water gravity‐flow deposits in lacustrine basins, have become the research focus in recent years. However, the sedimentary characteristics and depositional model of hyperpycnal flow deposits in lacustrine basins remain unclear due to the differences of depositional settings between lacustrine and marine environments. Hyperpycnal flow deposits observed in the middle of the third member of the Shahejie Formation (Es3z) in the Bonan Sag, Bohai Bay Basin, Eastern China, provide a rare case study to reveal the characteristics and depositional model in lacustrine basins. For the first time, detailed core analysis, high‐resolution 3D seismic data, petrology and grain size analysis were used to unravel the characteristics and depositional model of hyperpycnal flow deposits in this study. Twelve lithofacies, six bed types and four bedsets (corresponding to feeder channel, distributary channel, levee and lobe) were recognized from detailed facies analysis. Plant fragment, an important identification mark for hyperpycnal flow deposits, can be classified into three types: completely broken plant fragments, partially broken plant fragments and complete leaves. The proximal part of the deposit develops a small amount of scattered and completely broken plant fragments in massive or spaced stratified pebbly sandstone and massive sandstone due to strong erosion of sustained high‐density turbidity current. The medial part of the deposit is dominated by laminated partially broken plant fragments in planar laminated or rippled sandstone due to suspended settling of sustained high‐density turbidity current and quasi‐steady low‐density turbidity current. Layered partially broken plant fragments with some complete leaves are common in the upper part mud rich division of hybrid event bed and laminated siltstone in the distal part of the deposit. The distribution pattern of hyperpycnites is controlled comprehensively by palaeogeomorphy and sediment supply. Palaeogullies determine the provenance direction of hyperpycnal flow. The formation of synsedimentary faults and troughs control the transport routing patterns. Local micro‐palaeogeomorphy and depression areas further restrict the distribution of sand bodies. During the early stage of deposition with insufficient sediment supply, sediments are transported to the deep basin along confined faulted troughs forming elongated sandy bodies. During the late stage of deposition with sufficient sediment supply, sediments are transported to the deep basin without confinement accumulating fan‐shaped sandy bodies. This study offers insight for enhancing the recognition criteria of hyperpycnites, as well as their depositional model in lacustrine basins.