The addition of LPG to the COstream leads to minimum miscible pressure (MMP) reduction that causes more oil swelling and interfacial tension reduction compared to COEOR, resulting in improved oil recovery. Numerical study based on compositional simulation has been performed to examine the injectivity efficiency and transport behavior of water-alternating COLPG EOR. Based on oil, CO and LPG prices, optimum LPG concentration and composition were designed for different wettability conditions. Results from this study indicate how injected LPG mole fraction and butane content in LPG affect lowering of interfacial tension. Interfacial tension reduction by supplement of LPG components leads to miscible condition causing more enhanced oil recovery. The maximum enhancement of oil recovery for oil-wet reservoir is 50% which is greater than 22% for water-wet reservoir. According to the result of net present value (NPV) analysis at designated oil, CO propane, and butane prices, the optimal injected LPG mole fraction and composition exist for maximum NPV. At the case of maximum NPV for oil-wet reservoir, the LPG fraction is about 25% in which compositions of propane and butane are 37% and 63%, respectively. For water-wet reservoir, the LPG fraction is 20% and compositions of propane and butane are 0% and 100%.