CO2 flooding, which is an efficient method of enhanced oil recovery, is a very complicated process involving phase behavior. To understand the performance of CO2 flooding and provide accurate data for designing reservoir development, a comprehensive investigation of the phase behavior of CO2 miscible flooding and an accurate compositional reservoir simulation needs to be conducted. In PVT modeling, an effective and more physically reasonable equation of state model was achieved and the feasibility of CO2 miscible flooding was determined by multiple contact minimum miscibility pressure (MCMMP) calculation. Furthermore, compositional reservoir simulation studies for predicting CO2 miscible performance were designed and constructed with core flooding data. By matching with laboratory core flooding data, we can estimate parameters with uncertainty. The objective of this study was to find a work flow for parameter estimation in CO2 miscible flooding process that can be used to design and optimize field CO2 miscible floods.