The invention discloses a method of using gas logging component parameters to identify oil well reservoir strata and fluid properties. The method comprises the following steps that gas logging component relationship is calculated by meter by meter recursion; difference value between a component C3 and a component C2 is used, with the combination of drilling parameters, for establishing an oil index calculation model; difference value between a component IC5 and a component IC4 and the drilling parameters are for establishing a water risk index calculation model; changes of the component C3 areused for establishing an oil superiority index calculation model; channel map scale arrangement is carried out; and according to a discriminant mode, oil reservoir stratum development and fluid properties are represented from three aspects of oil-bearing possibility, water-bearing possibility and oil-bearing characteristic parameter variation characteristics. Meter by meter calculation, comparison of gas logging components and internal connecting link among gas logging components are provided to determine oil-bearing and water-beating properties of reservoir strata; and ability to identify reservoir strata oil and water while drilling during well logging is achieved, and to a certain extent, ability to judge whether the reservoir strata are underdeveloped and are dry layers is achieved.