Channeling flow frequently occurs during the high pressure water injection of low permeability reservoir. The injection process is complex and covers so many parameters of which the contribution to channeling flow is necessarily to be studied. In this paper, numerical simulation is combined with sensitivity analysis method to calculate the significance of the weight of parameters to the channeling flow. First the values of different parameters are produced by using Latin hypercube method; second, by using these parameters, finite element model have been established and simulated, and the quantity of channeling flow has been calculated; then Spearman rank relation is applied to measure the relation of parameters and channeling flow. The results states that, in 10 years continuous injection, the well spacing and injection pressure have significant impact on the channeling flow. This states that during the application of high pressure water injection, the pressure and well spacing should be controlled especially.