Fractures play an important role in transport in unconventional formations. Both matrix and fracture network in fractured media contribute to the effective permeability (k_eff). In this study, we investigate the interaction between matrix and fracture permeabilities (k_m and k_f) via the percolation-based effective-medium approximation (P-EMA). We theoretically determine the k_eff value at different fracture densities and compare our results with two- and three-dimensional numerical simulations. We found that the P-EMA estimated the effective permeability accurately in the matrix-fracture systems studied here. Further investigations are needed to better understand how the parameters of the P-EMA including scaling exponent and critical fracture density might vary from one fractured reservoir to another.