Manifold researches for carbon capture and storage (CCS) have been developed and large scale-carbon capture system can be performed recently. Hence, the technologies for CO2 sequestration or stor-age become necessary to handle the captured CO2. Among them, enhanced oil recovery using CO2 can be a sol-ution since it guarantees both oil recovery and CO2 sequestration. In this study, the miscible flow of oil and CO2 in porous media is modeled to analyze the effect of enhanced oil recovery and CO2 sequestration. Based on Darcy-Muskat law, the equation is modified to consider miscibility of oil and CO2 and the change of viscosity. Finite volume method is used for numerical modeling. As results, the pressure and oil saturation changes with time can be predicted when oil, water, and CO2 are injected, respectively, and CO2 injection is more efficient than water injection for oil recovery.