We study multiphoton blockade and photon-induced tunneling effects in the two-photon Jaynes-Cummings model, where a single-mode cavity field and a two-level atom are coupled via a two-photon interaction. We consider both the cavity-field-driving and atom-driving cases, and find that single-photon blockade and photon-induced tunneling effects can be observed when the cavity mode is driven, while the two-photon blockade effect appears when the atom is driven. For the atom-driving case (the two-photon transition process), we present a criterion of the correlation functions for the multiphoton blockade effect. Specifically, we show that quantum interference can enhance the photon blockade effect in the single-photon cavity-field-driving case. Our results are confirmed by analytically and numerically calculating the correlation function of the cavity-field mode. Our work has potential applications in quantum information processing and paves the way for the study of multiphoton quantum coherent devices.