The difficulty of deploying remaining oil from unconventional reservoirs and the increasing CO2 emissions has prompted researchers to delve into carbon emissions through Carbon Capture, Utilization, and Storage (CCUS) technologies. Under the confinement of nanopore in unconventional formation, CO2 and hydrocarbon molecules show different density distribution from in the bulk phase, which leads to a unique phase state and interface behavior that affects fluid migration. At the same time, mineral reactions, asphaltene deposition, and CO2 pressurization will cause the change of porous media geometry, which will affect the multiphase flow. This review highlights the physical and chemical effects of CO2 injection into unconventional reservoirs containing a large number of micro-nanopores. The interactions between CO2 and in situ fluids and the resulting unique fluid phase behavior, gas-liquid equilibrium calculation, CO2 adsorption/desorption, interfacial tension, and minimum miscible pressure (MMP) are reviewed. The pore structure changes and stress distribution caused by the interactions between CO2, in situ fluids, and rock surface are discussed. The experimental and theoretical approaches of these fluid-fluid and fluid-solid reactions are summarized. Besides, deficiencies in the application and safety assessment of CCUS in unconventional reservoirs are described, which will help improve the design and operation of CCUS.