The variable flowline modification technology has been formed in the development of reservoirs with medium-high permeability and high water cut in Shengli Oilfield， which can effectively control water consumption and reduce the decline in the field. However， it still faces issues， such as different increments of enhanced oil recovery （EOR）， different effect of a single well， and short validity periods. To improve the effect of flow field regulation development in reservoirs with medium-high permeability and high water cut， theories and methods of development geology， dynamic of fluids through porous media and reservoir engineering were comprehensively applied. Based on large-scale，and visual microphysical simulation experiments， reservoir numerical simulation， and development practice of flow field regulation， a new understanding of flow field regulation mechanism was proposed， and a deep development technology system featuring“ variable flowline +，” large pressure gradient injection-production optimization， and dynamic flow field regulation was formed. The results show that the flow field regulation of reservoirs with medium-high permeability and high water cut has the characteristics of“ inheritance， redundancy， and regeneration”， which affects the flow field regulation effect. Stronger reservoir heterogeneity indicates a more obvious inheritance， which can be effectively reduced by“ bridging” to construct flowlines， expanding the swept volume. Due to the redundancy， the starting pressure threshold of the remaining oil in pores within unswept zones is high， and the displacement pressure gradient should be increased to produce the remaining oil in pores within unswept zones to improve the displacement efficiency. Due to the regeneration of the extreme water-consuming zones， it is necessary to dynamically regulate the flow field to achieve a more balanced displacement after flow field regulation. Based on the new understanding of the flow field regulation mechanism and the practice of flow field regulation development in reservoirs with medium-high permeability and high water cut， the proposed deep development technology system through flow field regulation could provide critical technical support for the efficient and long-term development of reservoirs with medium-high permeability and high water cut.