Pore- and fracture-filling gas hydrates were identified from the core samples at several sites during the second Guangzhou Marine Geological Survey (GMGS2) expedition. Well logs indicated that gas hydrate occurred in three distinct layers at site GMGS2-08. The gas hydrate saturations calculated from well-log data and the seismic responses for the three gas hydrate-bearing layers, especially within the middle carbonate layer, were poorly known. We estimated gas hydrate saturations using isotropic and anisotropic models based on the mineral composition of the sediments and the effective medium theory. In the upper and lower gas hydrate-bearing layers, saturations estimated from anisotropic models are close to those estimated from pressures cores and chlorinity data. The average saturation using an anisotropic model in the upper (fracture-dominated) hydrate layer is approximately 10% with a maximum value of 25%. In the lower (fracture-dominated) layer, the horizontal and vertical gas hydrate-filled fractures and visible gas hydrate were formed with a maximum saturation of approximately 85%. For the middle layer, well logs show high P-wave velocity, density, high resistivity as well as low gamma ray, porosity, and drilling rate, together indicating a carbonate layer containing gas hydrate. The hydrate saturations calculated from isotropic models assuming hydrate formed at grain contacts are less than 20%, which fit well with two values calculated from chlorinity data for this layer. The upper gas hydrate layer shows no clear seismic response and probably consisted of small fractures filled with gas hydrate. The middle carbonate and lower fracture-filled gas hydrate-bearing layers show pull-up reflections, with the carbonate layer exhibiting relatively higher amplitudes. Pore-filling gas hydrate was also identified just above the depth of the bottom-simulating-reflector (BSR) from the GMGS2-05 drill site. Below the BSR, the push-down reflections, polarity reversal, and enhanced reflections indicate the occurrence of free gas in the study area.