Reliably estimating reservoir parameters is the final target in reservoir characterisation. Conventionally, estimating reservoir characters from seismic inversion is implemented by indirect approaches. The indirect estimation of reservoir parameters from inverted elastic parameters, however, will produce large bias due to the propagation of errors in the procedure of inversion. Therefore, directly obtaining reservoir parameters from prestack seismic data through a rock-physical model and prestack amplitude variation with offset (AVO) inversion is proposed. A generalised AVO equation in terms of oil-porosity (OP), sand indicator (SI) and density is derived by combining a physical rock model and the Aki–Richards equation in a whole system. This makes it possible to perform direct inversion for reservoir parameters. Next, under Bayesian theorem, we develop a robust prestack inversion approach based on the new AVO equation. Tests on synthetic seismic gathers show that it can dramatically reduce the prediction error of reservoir parameters. Furthermore, field data application illustrates that reliable reservoir parameters can be directly obtained from prestack inversion.