A new quantitative model of water channeling identification in unconsolidated sandstone reservoir is presented that uses the hierarchical analysis and grey correlation method as its basis for calculations. By analyzing the influential factors of water channeling, seven static factors including sedimentary micro-facies, oil viscosity, permeability, porosity, reservoir type, heterogeneity and cementation degree which impact the formation and development of water channeling are studied, and six dynamic factors including water injection index, injection/production well pressure difference, liquid production index, water cut, production/injection ratio and sand production rate which indicate the appearance of water channeling are confirmed. Used the hierarchical analysis and grey correlation method, the weights of static factors and dynamic factors are calculated, and the new identification model of water channeling is established. In the new identification model of water channeling, there are six different geological models lead to different fluid flow law in the reservoir, which is conventional zone, high permeability zone, micro- fracture in reservoir, and macro-fracture in reservoir, part-completely developed water channeling and full-completely developed water channeling. Using the new method proposed in this paper, the characteristics of water channeling in a practical reservoir group are analyzed. And the quantitative identification results are proved by tracer monitor results. The testing result of tracer is the same as the quantitative identification method, that is to say the new method is effective and accurate.