Shale oil is an unconventional oil resource with great potential. Oil saturation () is an essential parameter for formation evaluation. However, due to the complexity of matrix mineral components and pore structure, Archie’s law cannot be used directly to calculate in shale oil reservoirs. We have developed a new saturation model for shale oil reservoirs. This model allows us to separate the organic from the inorganic pores, eliminate the background conductivity mainly caused by the borehole fluid or conductive minerals and determine the effective conductive porosity, which rules out nonconductive porosity, including isolated pores and the pore space affected by the fluid distribution. By analyzing the logging and core experimental data from the Qianjiang Sag, Jianghan Oilfield, we found that the T2 cutoff porosities of nuclear magnetic resonance logging are strongly related to the nonconductive porosities. After we determine the T2 cutoff value using the core experimental data, we can use it to obtain nonconductive porosity fraction in each depth point, which allows us to efficiently calculate . We calculate oil saturation values and use them to estimate the oil content. The results are coherent with the core experimental data, which indicates the efficiency of this model.