The hysteresis of relative permeability and capillary pressure need to be more widespread in academic studies, in order to understand how they can influence reservoirs with light oil and high pressure. These phenomena become extremely important to have a good prediction of oil production, considering that in many cases, the use of hysteresis in calculations can lead to a better prediction of oil recovery, allowing the exploration of certain fields. Thus, this study had as main objective the analysis of two hysteresis models (Killough and Larsen and Skauge) widely used in commercial software, in order to investigate the behavior of a light oil reservoir using a miscible WAG-CO2 process. Thus, to achieve this goal, a semi-synthetic reservoir, with characteristics similar to those found in the Brazilian pre-salt, was considered and was modeled using commercial software from CMG. Hysteresis reduces fluid permeability, which can generate two effects: increased local sweep efficiency of the oil and loss of injectivity. The former effect contributes to increased oil recovery, while injectivity loss can decrease oil sweep, reducing oil recovery. Furthermore, this work found that hysteresis can cause loss of gas and water injectivity, however this did not prevent hysteresis from increasing oil recovery compared to the case without hysteresis.