Oil reservoirs with strong edge/bottom water often have complex oil-water relationship and no uniform oil-water contact，and the coning of edge/bottom water would severely influence oil well production and its stability. In the early production stage，it is difficult to know the reservoir only according to limited well drilling data. However，the key to develop this kind of reservoirs is to obtain reservoir parameters，aquifer volume，water invasion index and water influx. Based on the advanced Blasingame production decline analysis method，pseudo-steady state water invasion model was applied to deriving the reservoir parameter evaluation method for the reservoirs with pseudo-steady state water invasion. The water influx，aquifer volume，water invasion index，dynamic reserves and reservoir parameters were calculated quantitatively. This method firstly divides well production history into three periods：no water invasion period，early water invasion period and middle-late water invasion period. Then the reservoir parameters and well dynamic reserves can be evaluated by matching well production data of no water invasion period with the typical advanced Blasingame production decline curve，and the aquifer volume，water invasion index and water influx can be quantitatively evaluated by matching well production data of early water invasion period. Finally，the numerical simulation result of the established conceptual model verifies that the method is practicable. The error of the dynamic reserves is -3.31%，the error of the permeability is 2.60% and that of the aquifer volume is -2.5%. The matched results of the new method have acceptable errors，which cannot influence the determination of development mode greatly.