The existing pump-stopping pressure drop models for the hydraulic fracturing operation of tight oil reservoirs only consider the main hydraulic fracture and the single-phase flow of fracturing fluid. In this paper, a new pump-stopping pressure drop model for fracturing operation based on coupling calculation of the secondary fracture and oil-water two-phase flow is proposed. The physical model includes the horizontal wellbore, the fracture network and the tight oil reservoir. Through the numerical simulation and calculation, the wellbore afterflow performance, the crossflow performance between the main hydraulic fracture and the secondary fracture, the fracturing fluid leakoff and the oil-water replacement after termination of pumping are obtained. The pressure drop characteristic curve is drawn out by the bottom-hole flow pressure calculated through the numerical simulation, and a series of analyses are carried out on the calculated pressure drop curve, which is helpful to diagnose the -oil-water two-phase flow state and the fracture closure performance under the control of the fracture network after hydraulic fracturing pumping. Finally, taking a multi-stage fractured horizontal well in a tight oil reservoir in the Junggar basin, China as an example, the pump-stopping pressure drop data of each stage after hydraulic fracturing are analyzed. Through the history fitting of the pressure drop characteristic curve, the key parameters such as fracture network parameters, which include the half-length of main hydraulic fracture, the conductivity of main hydraulic fracture and the density of secondary fracture, the fracture closure pressure are obtained by inversion, thus, the hydraulic fracturing effect of fractured horizontal well in tight oil reservoirs is further quantified.