The invention provides a method and a device for simulating 
black oil reservoir. The method comprises the following steps of according to component fluid seepage parameters, establishing a component model for describing a 
black oil reservoir fluid seepage rule; according to the required data for simulating 
black oil based on the black oil model, performing numerical 
discretization on the component model, so as to obtain a component number model based on a discrete network of a black oil reservoir geological model; according to fluid PVT (pressure-volume-temperature) data, establishing a component 
phase balance parameter 
list; according to the component 
phase balance parameter 
list and the evaluation values of the component fluid seepage parameters, performing flash calculation, so as to obtain the 
fluid phase state and applicable physical parameter; according to the 
fluid phase state and applicable physical parameter, adjusting the component number model; according to the evaluation values of component fluid seepage parameters and the adjusted component number model, calculating, so as to obtain the oil 
reservoir pressure change value and the saturation change value of each 
fluid phase; judging whether the oil 
reservoir pressure change value and the saturation change value of each fluid phase are convergent or not; when the oil 
reservoir pressure change value and the saturation change value of each fluid phase are convergent, calculating, so as to obtain the oil reservoir pressure and the saturation of each fluid phase. The method has the 
advantage that the extendability of oil reservoir number 
simulation architecture is improved.