As an important technology in improving oil recovery, CO2 miscible flooding has achieved great success in many oil fields. However, studies on CO2 transport in porous media are mostly based on equilibrium adsorption in one-dimensional displacement where rate-controlled adsorption is not taken into consideration. In this work, we develop a radial convection–dispersion model, which simultaneously combines rate-controlled adsorption, convection, and dispersion. Based on this model, four dimensionless groups representing CO2 dispersion, adsorption capacity, flow rate, and kinetic rate groups are proposed for the first time. Subsequently, the Barakat–Clark forward and backward difference methods are combined to solve the mathematical model. CO2 concentration and adsorption at different positions in the porous media (including the effluent concentration and adsorption histories) are then calculated. Furthermore, the effects of the parameters on CO2 transport behavior are studied in detail. The results reveal that CO2 gradually moves forward with the increase in the CO2 injection volume. Once CO2 reaches a certain position, its concentration there increases and an S-shaped curve is formed. Moreover, the adsorption capacity at this position also increases significantly, and the changing rate is much higher than CO2 concentration. CO2 effluent concentration grows more uniform, and the breakthrough occurs earlier with increased dispersion velocity and CO2 injection rate and decreased adsorption capacity and adsorption rate. The mathematical model developed in this study is of great importance in predicting CO2 transport behavior in radial miscible flooding.