Due to the impact of climate warming and the retreat of ice and snow in the Arctic，economic development activities in the Arctic have increased. This paper focuses on the policies and practices of Arctic oil and gas exploitation in Russia，the United States，Canada and Norway. The development of Arctic oil and gas resources is facing more complicated situation. Russia plans to promote the economic development of the Arctic，but the United States’ energy development policy in Alaska vacillates. Canada’s new Arctic policy seeks to balance multiple interests while Norway actively explores offshore oil and gas exploration and development. Economic growth，sovereignty and security，environmental challenges，domestic politics and economic benefits are the main factors affecting the development of oil and gas resources in the Arctic. Arctic countries pay more attention to the coordinated development of economy，security，society，ecology and traditional way of life，and pay more attention to the role of scientific and technological innovation in Arctic development policies.