An experimental study was carried out on the water-based fracturing fluid system for low-permeability reservoirs.The formulation of the temperature-resistant water-based polymer fracturing fluid system was preferred through the indoor performance evaluation test,and its structural thermal stability was analyzed by combining infrared spectroscopy and thermogravimetric analysis with other microscopic means,and its rheological,sand-carrying,return-expanding and anti-expansion and filtration-loss properties were determined by using the indoor evaluation experiments,and the pilot tests were carried out on site in the oilfield.The main formulation(mass fraction) of the fracturing fluid was determined as follows:0.2%~0.8% HPAM thickener,1.0% B3 clay stabilizer,0.1%~0.3% M2 glue breaker,0.3% G6 drainage aid,0.2% TB emulsion breaker and 0.02%~0.06% FS crosslinker.The microscopic test results showed that it had excellent thermal stability.Fracturing fluid breakage residue was much lower than other systems,and the anti-expansion rate could reach 88% for rock chips with clay mass fraction more than 18%.The fracturing fluid system did not require the addition of additional filter loss reducers,and the damage to the reservoir could be reduced by more than 10% compared with the guanidine gel system.