Current models of sedimentary environments and organic matter (OM) enrichment for the Lower Cambrian black shales in the Yangtze Platform have not yet incorporated its northern carbonate platform margin where the related research is lacked. This study focuses on the SNZ1 well in the northern carbonate platform margin, utilizing total organic carbon (TOC) content and major and trace element data to reveal the main controlling factors of OM enrichment during the Early Cambrian. The results show that the shale stratum is tentatively ascribed to the Lower Cambrian Stage 3 and that, during its deposition, the redox transitioned from anoxic to suboxic–oxic conditions, the hydrodynamic conditions weakened initially and then strengthened, the primary productivity first increased and then decreased, the paleoclimate shifted from arid–cold to warm–humid conditions, and the terrigenous clastic input gradually diminished. Overall, the OM enrichment is primarily controlled by preservation conditions. By systematically analyzing the data from the intraplatform basin to the deep-sea basin across the Yangtze Block, a model of the sedimentary environments and OM enrichment during the Early Cambrian was suggested. Additionally, this study highlights the intrinsic link between the expansion of oxygenated surface water and the Cambrian explosion. These results provide critical insights for shale gas exploration in this region.