Deciphering oracle bone characters (OBCs), the oldest attested form of written Chinese, has remained the ultimate, unwavering goal of scholars, offering an irreplaceable key to understanding humanity's early modes of production. Current decipherment methodologies of OBC are primarily constrained by the sporadic nature of archaeological excavations and the limited corpus of inscriptions. With the powerful visual perception capability of large multimodal models (LMMs), the potential of using LMMs for visually deciphering OBCs has increased. In this paper, we introduce PictOBI-20k, a dataset designed to evaluate LMMs on the visual decipherment tasks of pictographic OBCs. It includes 20k meticulously collected OBC and real object images, forming over 15k multi-choice questions. We also conduct subjective annotations to investigate the consistency of the reference point between humans and LMMs in visual reasoning. Experiments indicate that general LMMs possess preliminary visual decipherment skills, and LMMs are not effectively using visual information, while most of the time they are limited by language priors. We hope that our dataset can facilitate the evaluation and optimization of visual attention in future OBC-oriented LMMs. The code and dataset will be available at https://github.com/OBI-Future/PictOBI-20k.