Such additives are added as emulsifier， thickening agent and demulsifier for testing， screening and preparing water-in-oil emulsified fracturing fluid and volume of their addition shall be determined in order to achieve such a formula of water-in-oil emulsified fracturing fluid： 14 % diesel oil + 1.6 % emulsifier + 0.22 % water thickener water +2.5 % KCl + 0.2 % demulsifier， with pH value of 10 and oil-water volume ratio of 14：86. Evaluated are heat resistance， heat and shear resistance properties， rheological properties and filtration rate and formation damage rate of the emulsified fracturing fluid prepared by using the formula. Experimental results show that the rheological properties of formula meet requirements of fracturing fluid， filtration volume is low， has some shear resistance， can significantly reduce the formation damage resulting in fracturing fluid. Apparent viscosity of the fracturing fluid is still more than200mPa·s after 60min shearing in90℃and 170s-1 condition. The fracturing fluid can replace normal oil-based gel fracturing fluid and be applied in high water sensitivity and low pressure reservoir fracturing reconstruction.