Due to uneven proppant distribution and varied proppant sizes during hydraulic fracturing, artificial fractures of varying length, asymmetry, and varying conductivity are easily formed near the wellbore. The principal focus of this work is to investigate the pressure transient performance of a vertical well penetrated by multiple asymmetrical fractures with varying lengths and varying conductivities in a tight oil reservoir. A novel fracture flow equation was developed specifically to describe the flow behavior inside the complex artificial fractures mentioned above. By combining with the point source solution of the tight oil reservoir, a semianalytical solution was further obtained to analyze the pressure transient behavior of a vertical well with multiple varying-conductivity fractures in a tight oil reservoir. The accuracy and reliability of the newly-developed solution were verified by comparing with the result of a numerical model. With this new solution, fracture flux distribution for different conductivity modes, namely, linearly declining mode, exponentially declining mode, and elliptically declining mode, shows that the near-wellbore fracture flux of the exponential mode is greater than that of the other two modes, but the flux distribution near the fracture tips is on the contrary. Meanwhile, the transient flow characteristics under the above varying conductivity modes indicate that the exponentially varying conductivity has a significant influence on the early linear flow regimes, while the linear and elliptical mode only has a slight influence on the bilinear flow regime under high conductivity. Parameter sensitivity analysis reveals that the obvious inversion point occurring in the pressure derivative curves of uniform conductivity fractures disappears on the pressure derivative curves of varying conductivity fractures, and a weaker asymmetry, a greater adjacent fracture angle, and a larger fracture number and fracture length ratio are conducive to improve the fracturing stimulation effect. This study deepens our understanding of the transient flow performance of vertically fractured wells and helps to estimate artificial fracture properties and evaluate hydraulic fracturing performance.