As a special type of reservoirs, volcanic reservoir is characterized by fast lithology and lateral lithofacies change, strong heterogeneity, complex geologic and seismic conditions, which makes the recognition of effective volcanic reservoir difficult in the aspects of plane distribution, burial depth, thickness and properties changes, and it is difficult to obtain accurate prediction effect by conventional seismic inversion techniques. In viewof this difficulty, this paper analyzed the high quality volcanic reservoir in Hongche fault zone in the northwestern margin of Junggar Basin, established the volcanic sequence, and predicted the high quality volcanic reservoir distribution law by using multiattribute constrained seismic inversion technique. The predicted area of favorable reservoir in the study area reaches 57.4 km2. It will promote the oil and gas exploration of volcanic reservoirs in this area.