Designing a scientific and reasonable production plan is a core task for water flooding oil reservoirs. The decision need to fully consider the dynamic and static heterogeneity characteristics of the reservoir geology and development. There are many influencing factors, making quantitative decisions difficult. Therefore, starting from the basic theory of reservoir engineering, aiming at reducing imbalanced displacement, the injection and production parameter design formulas for heterogeneous reservoirs under two different control methods, constant liquid rate and constant bottom hole pressure, are derived. The influence rules of dynamic and static reservoir parameters on injection production design are analyzed. A new method of balanced injection and production design for heterogeneous reservoirs is formed. The difference between the traditional method and the new method is compared and analyzed with an example, and finally the application analysis of an oil field is carried out. The study clarified that the injection-production design of oil-water wells is affected by well spacing, porosity, permeability, current water saturation and other factors, and pointed out that the sensitivity of the high-water-cut oil reservoir injection-production design to the current water saturation is significantly improved. Under the same conditions, the new method is better than the traditional method. The field application practice shows that using the injection-production scheme designed by the new method, the oil rate increases 0.9t/d for the target well group. The water cut is reduced by 0.3%, the daily ineffective water injection is reduced by 37.5 m3, and the water consumption per ton of oil and operating cost are also greatly reduced, which effectively supports the economic and efficient development of oil reservoirs.