Geothermal resources are abundant in the Southern North China Basin, which is one of the prospective areas hosting low–medium-temperature geothermal resources in sedimentary basins in China. The purpose of this work is to reveal the formation and storage conditions of the geothermal resources in the western margin of the Taikang Uplift and delineate the range of potential geothermal reservoirs. This paper uses five magnetotelluric sounding profiles for data processing and analysis, including the calculation of 2D skewness and electric strike. Data processing, analysis, and NLCG 2D inversion were performed on MT data, which consisted of 111 measurement points, and reliable two-dimensional resistivity models and resistivity planes were obtained. In combination with drilling verification and the analysis of geophysical logging data, the stratigraphic lithology and the range of potential geothermal reservoirs were largely clarified. The results show that using the magnetotelluric sounding method can well delineate the range of deep geothermal reservoirs in sedimentary basins and that the MT method is suitable for exploring buried geothermal resources in deep plains. The analytical results showed that the XZR-1 well yielded 1480 cubic meters of water per day, with the water temperature of the wellhead being approximately 78 °C, and combined with the results of this electromagnetic and drilling exploration, a geothermal geological model and genesis process of the west of the Taikang Uplift area was constructed. The water yield and temperature were higher than those of previous exploration results, which has important guiding significance for the future development and utilization of karst fissure heat reservoirs in the western Taikang Uplift.