The method of production data analysis is commonly used in shale oil and gas wells，which can be used to estimate reservoir permeability and fracture half- length and other parameters by analyzing the production characteristics curves. However，this method is applicable to shale dry gas wells or shale oil wells in which only single-phase flow exists.For shale volatile oil well，the previous method is not suitable since both oil and gas are produced in the reservoir and at surface. A series of numerical simulations was run to investigate the effect of different gas-oil ratios（GOR）on production characteristics curves and estimated parameters. A production convert method was then introduced for modification. The results show that：for the shale volatile oil wells，if only oil production rate is analyzed，the slope of square root of time curve will increase and the curve will deviate from the linear flow behavior. The deviation degree will increase with initial GOR increases；also，the calculated fracture half-length will be smaller than the true value，and the calculated error varies from 6% to 56%；the production convert method can change the gas production into the equivalent oil production. By using the modified oil production in analysis，the calculated error of fracture half-length can be reduced by a maximum of 42%. This modified method is simple，and can be easily used in field. It can be also used in tight oil reservoir.