In this study, a compound surfactant system composed of alkyl polyglucoside (APG) and amine oxide (OAE) was formulated to synergistically stabilize the oil-in-water emulsion for enhanced oil recovery (EOR). Dewatering ratio, droplet size distribution, interfacial tension (IFT), emulsion stability, and microscopic displacement performance of the compound system were investigated. The smallest emulsion droplet size and lowest IFT, indicating the presence of the most stable emulsion, are observed when the total mass concentration and the mass ratio of APG/OAE are 0.5 wt % and 7:3, respectively. The oil/water interfacial film is more compact, which is attributed to the electrostatic attraction. Meanwhile, the formation of an intermolecular hydrogen bond between APG and OAE molecules is beneficial for improving the strength of the interfacial film. Moreover, the microscopic flooding experiment was conducted with a microvisual model, indicating that the formulated compound system can effectively emulsify the residual oil and enhance oil recovery through trapping and carrying mechanisms. Hence, the compound surfactant system could serve as an ideal alternative in the chemical EOR.