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The limited understanding of rock physical properties in marine shale from the Ordovician Wulalike Formation along the western margin of the Ordos Basin has hindered comprehensive evaluations of shale gas reservoirs. This study systematically investigates the variation patterns and controlling factors of seismic elastic properties in Wulalike Formation marine shale samples through petrological and petrophysical tests, while discussing the distribution characteristics of reservoir ‘sweet spots’. Results indicate that the petrological characteristics of Wulalike Formation marine shale are influenced by tectono‐sedimentary differentiation. The lithology transitions from calcareous shale in upper slope environment to mixed shale in slope depression, and finally to siliceous shale in open marine shelf environment. Both organic matter abundance and porosity of the shale samples progressively increase with depositional environments and lithological transitions. Simultaneously, the rock stress skeleton evolves from carbonate particle dominance to clay and quartz particle dominance. Variations in rock microstructural characteristics among different lithological types of samples are the primary factor influencing seismic elastic properties. In petrophysical crossplots (impedance vs. porosity, Poisson's ratio vs. P‐wave impedance and λρ vs. μρ), the shale samples exhibit partitioned distributions on the basis of their composition and lithology. The ‘sweet spots’ reservoirs are predominantly composed of siliceous shale, characterized by high total organic carbon (TOC), porosity and low Poisson's ratio and λρ characteristics. On the basis of the petrophysical analysis, reservoirs are categorized into three grades. Laterally, reservoir classification transitions from Grade ‘III’ to ‘I’ with changing depositional environments. Shale gas reservoirs in open marine shelf and slope depression environments (e.g., the lower part of Well ZP1) meet or exceed Grade ‘II’ standards, indicating high‐quality reservoir potential.