In this chapter, the recent advances in chemical flooding, including the application of nanoparticles, novel surfactants, and the combination thereof will be discussed and described. The main rock and reservoir fluids properties that influence the effectiveness of chemical flooding will be addressed. The emphasis will be given on wetting properties and recent advances in methods for measuring wettability. The technological and economic challenges associated with chemical injection will be posed, and reсent solutions will be given. Especially, the challenge of applying chemical EOR methods to carbonate reservoirs will be covered, and suggestions to overcome it will be given. Moreover, the current worldwide applications of chemical EOR will be discussed and future plans will be outlined.