Water channeling is a serious problem during the water flooding of naturally fractured low permeability reservoir. To solve the problem, nitrogen foam profile control and displacement technology were researched applying both experimental and simulation methods. The sealing capacity and oil displacement capacity of nitrogen foam were the main research objects. The results showed that nitrogen foam could reduce water cut and increase oil recovery significantly. After plugging the interconnected fracture, the swept volume of flooding liquid and oil recovery would be increased obviously. In the experimental research, oil recovery efficiency was increased by more than 10% after injection of nitrogen foam. The injection of nitrogen foam was flexile and convenient when applied in field construction, and the nitrogen foam profile control and displacement technology were suitable for EOR of naturally fractured low permeability reservoirs.