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Tight carbonate reservoirs in the Western Qaidam Basin have complex lithologies and pore structures. The oil–water mobility law in reservoirs has not yet been completely determined, restricting the formulation of rational reservoir development methods. To bridge this gap, in this study, we used several test methods, such as casting thin sections, mercury intrusion, and nuclear magnetic resonance, to obtain the pore structure and oil–water displacement characteristics of tight carbonate reservoirs in the Western Qaidam Basin. The pore structures of the reservoirs could be categorized into three types: microfractures + dissolved pores + micropores (MFD), microfractures + micropores (MF), and matrix (M). The characteristics of single‐phase oil seepage and water flooding in reservoirs with various pore structures differed evidently. For the MF‐ and M‐types, the water‐locking effect caused by the strong capillary force affected oil charging in the micropores. The effect of the pressure drop on the MFD‐type algal limestone was less than that on the MF‐type limestone (dolomite) because of the occurrence of a non‐Darcy flow. The MFD‐type, which contained microfractures, had preferential seepage channels, resulting in obvious fluid channeling and low water displacement efficiency. Oil−water displacement mainly occurred in the dissolved pores and microfractures, suggesting that starting oil accumulation in the micropores was crucial. This study will assist in efficient development of tight carbonate reservoirs in the Western Qaidam Basin. [ABSTRACT FROM AUTHOR]