The paper presents the results of a systematic microfluidic study of the application of nanosuspensions for enhanced oil recovery. For the first time, approximately a dozen nanosuspensions prepared by the dilution of silica sols as displacement fluids were considered. The concentration of nanoparticles in the suspensions varied from 0.125 to 2 wt%, and their size ranged from 10 to 35 nm. Furthermore, the silica sols under consideration differed in their compositions of functional groups and pH. The effects of concentration, nanoparticle size, fluid flow rate, and the viscosity of the displaced oil were investigated using microfluidic technology. The microfluidic experiments demonstrated that the application of nanosuspensions for water flooding has significant potential. The efficiency of oil displacement by nanosuspensions was found to increase significantly (up to 30%) with the increasing concentration and decreasing average size of nanoparticles. The application of nanosuspensions for the enhancement of oil recovery is most appropriate for reservoirs with highly viscous oil.