Abstract: Fractured carbonate reservoirs generally have dual-medium characteristics, and multiphase fluid seepage in fracture porous network system is complex. So, the research thereof is difficult and there are less related research results at home and abroad. Physical simulation of fractured carbonate gas storage mainly includes two parts: microscopic visualization and core. In this paper, gas-water percolation law and injection-production mechanism of such gas storage are discussed from both macroscopic and microscopic viewpoints. A set of evaluation methods of physical simulation applicable at this stage are proposed. Furthermore, the development tendency of the physical simulation is analyzed. The research results will have a great significance to amend parameters of gas storage capacity and guide the normal and efficient operation of gas storage.