The simulated produced fluid for polymer-surfactant flooding was prepared with oil from north third district in Changqing oilfield, oilfield produced water, polyacrylamide and betaine surfactant. The water ratio of produced fluid was range from 10% to 90%. High-concentration produced fluid contained 1000 mg/L polymer and 1667 mg/L surfactant, while low-concentration produced fluid contained 400 mg/L polymer and 600 mg/L surfactant. The effect of water ratio, concentration of polymer or surfactant, shear rate and temperature on the rheological property of simulated produced fluid was studied. The results showed that the emulsion type of high-concentration produced fluid was W/O when its water ratio was 10%—20%, and it turned to O/W when its water ratio was more than 25%. The phase transition point was between 20% and 25%. While the phase transition point of low-concentration produced fluid was between 25% and 30%. The viscosity of simulated produced fluid decreased with increasing temperature. When the water ratio was low, the viscosity of simulated produced fluid (W/O) remained constant with decreasing concentration of polymer-surfactant. When the water ratio was high, the viscosity of simulated produced fluid (O/W) decreased with increasing water ratio and decreasing concentration of polymer-surfactant at same temperature. Besides, whether the simulated produced fluid was W/O or O/W emulsion, the viscosity of simulated produced fluid decreased with increasing shear rate when temperature was below the abnormal point, which showed the property of shear-thinning.