A new kind instant recycling profile control and flooding agent water-in-water cationic emulsion polymer (WCEP) was developed by the lab tests to solve the problems of the high-permeability belt becoming more mature, high water-cut rate in the oil well and increasing the water treatment burden as the high concentration production. Physical simulation test results showed that the WCEP had the advantages of instant, easy injection and shearing resistance. The flocculating substance suspends in water as a bulk or filaments on rock surface and pore by way of adsorption to form flowing resistance and divert the subsequent fluid, so as to improve further water flooding effect. The core plugging rate was 80.2%~93.2% after injecting polymer and WCEP solutions. And the oil recovery can be further improved to 9.60%.