When the low permeability reservoirs are developed with conventional waterflooding technology，producers will have low efficiency，low oil and liquid production，and poor economic benefits. Traditional water-flooding development technology cannot meet the requirements of economic and effective development of low permeability reservoirs. Although the development mode of depletion recovery after volume fracturing of tight oil can improve the initial productivity of single well, due to the characteristics of small sand body, low formation pressure coefficient, high viscosity of crude oil and low gas oil ratio, there are still defects of rapid production decline, low cumulative oil production and low recovery factor. There is an urgent need to adjust development ideas and change waterflooding development mode. Therefore，this paper innovatively puts forward three development ideas for low permeability reservoirs，namely，the transformation from radial displacement to linear displacement，transformation from continuous water injection to imbibition oil recovery such as asynchronous injection and production，water injection huff and puff，producer-injector exchange，and transformation from increasing producing reserves by shortening well distance of producer and injector to increasing fracture-controlled reserve by volume fracturing. A brand-new development model of“volume fracturing+effective displacement+imbibition oil recovery”is established and applied to GD6X1 Block in Dagang Oilfield. The preliminary implementation effect is remarkable.