The seismoelectric effect is a physical phenomenon in fluid-saturated porous media. Developing seismoelectric exploration is the leading edge in geophysics. Based on abundant laboratory and field data, this paper makes a discussion on seismoelectric coupling mechanism, detection mode and application potentials. The results prove that the seismoelectric method can be used to detect and characterize the fractured or permeable reservoir, and that it has wide prospects in oil/gas exploration and production.