Based on an analysis of seismic data collected with different acquisition parameters in a work area of the South China Sea, this paper deals with the impact of the sinking depths of seismic source and cable on the quality of collected data in marine tow seismic exploration. The results are as follows: the shallower the seismic source sinking depth, the better the high frequency effect with the broadening wavelet frequency band; the shallower the cable sinking depth, the broader the frequency band, and the higher the resolution ratio, but with rather high noise resulting from stormy waves. The results obtained provide good basis for seismic data acquisition and subsequent seismic data processing.