One of the most famous discoveries is Sharovipteryx mirabilis, a small Triassic reptile that is believed to have had membranes on its hind limbs that allowed it to glide. The only known specimen of the animal was discovered in Madygen.

The area has also yielded fossils of the mysterious ancient reptile Longisquama insignis. In addition, about 500 species of fossil insects and 12 endemic vertebrates have been identified in the formation, meaning species whose known fossil remains are associated specifically with this area.

The Madygen Formation is considered an important reference geological site dating to the Middle and Late Triassic. Its unique geological sections allow scientists to study the recovery of terrestrial and freshwater ecosystems following the largest mass extinction at the end of the Permian Period.