The complex fault block reservoir has the characteristics of small area and many layers in vertical. Due to the influence of formation heterogeneity and well pattern, the situation that “water fingering is serious with water injection, on the contrary, driving energy is low” frequently occurs in water flooding, which makes it difficult to enhance oil recovery. Asynchronous injection-production (AIP) process divides the conventional continuous injection-production process into two independent processes: injection stage and production stage. In order to study oil recovery in the fault block reservoir by AIP technology, a triangle closed block reservoir is divided into 7 subareas. The result of numerical simulation indicates that all subareas have the characteristic of fluid diverting and remaining oil in the central area is also affected by injected water at injection stage of AIP technology. Remaining oil in the central area is driven to the included angle and border area by injected water and then produced at the production stage. Finally, the oil recovery in the central area rises by 5.2% and in the noncentral area is also increased in different levels. The AIP process can realize the alternative change of reservoir pressure, change the distribution of flow field, and enlarge the swept area by injected water. To sum it up, the AIP process is an effective method to improve the oil recovery in complex fault-block reservoir by water flooding.