It is very important to design the optimum starting time of water injection for the development of low permeability res-ervoirs. In this type of reservoir the starting time of water injection will be affected by a reservoir pressure-sensitive effect. In order to optimize the starting time of water injection in low permeability reservoirs, this effect of pressure change on rock permeability of low permeability reservoirs was, at first, studied by physical simulation. It was shown that the rock permeability decreases expo-nentially with an increase in formation pressure. Secondly, we conducted a reservoir engineering study, from which we obtained analytic relationships between formation pressure, oil production rate, water production rate and water injection rate. After our physical, theoretical and economical analyses, we proposed an approach which takes the pressure-sensitive effect into consideration and designed the optimum starting time of water injection, based on the principle of material balance. Finally, the corresponding software was developed and applied to one block of the Jiangsu Oilfield. It is shown that water injection, in advance of production, can decrease the adverse impact of the pressure-sensitive effect on low permeability reservoir development. A water-flooding pro-ject should be preferably initiated in advance of production for no more than one year and the optimum ratio of formation pressure to initial formation pressure should be maintained at a level between 1.05 and 1.2.