The global warming is accelerating due to huge amount of greenhouse gas emission of CO₂ which leads to the temperature rise and the climate change on the earth. Global warming has put much pressure on both human being survival and social economy development. The most effective way for disposing CO₂ is to directly inject them into oil and gas fields, and only in this way, not only CO₂ could be sealed up but also the recovery rate of oil and gas fields could be enhanced. CO₂ flooding Enhanced Oil Recovery (EOR) technique has been widely applied to the low permeability reservoirs all over the world. Against the status that Chinese natural capacity of low permeability reservoir is low, carbon dioxide miscible and non-miscible flooding mechanism of EOR, and corresponding screening criteria, the research status are systematically discussed in here. According to actual application analysis of carbon dioxide to enhance oil recovery in low permeability reservoir at home and abroad, it is put forward that carbon dioxide could increase oil and decrease water, and effectively enhance oil recovery, and the main problems needed to be solved are summarized. In addition, the suggestions on actively developing carbon dioxide technique research and on-site test are offered. Finally, the development prospect of EOR is looked ahead.