With the development of unconventional oil and gas fields, fracturing technology has been widely used in oil fields. The treatment of fracturing flowback fluid with high salinity, high viscosity and high COD content during fracturing has always been a difficult problem in the industry, and it is also a key factor affecting the smooth development of shale gas. The composition of fracturing flowback fluid is complicated, the processing difficulty is high, the processing cost is high, and the processing effect is poor, which makes it become one of the important problems puzzling the development of shale gas. Therefore, the research on the disposal and reuse of fracturing flowback fluid comes into being. Through the investigation of domestic and foreign literature, the composition, source, characteristics and hazards of fracturing flowback fluid are analyzed in this paper. At the same time, the research status of the main treatment methods of fracturing flowback fluid at home and abroad is reviewed from three aspects: efflux after the treatment of fracturing flowback fluid reaches the standard, reinjection of fracturing flowback fluid and reuse of fracturing flowback fluid, and the research status of various treatment methods before efflux of fracturing flowback fluid is summarized, and the existing problems in the treatment and reuse of fracturing flowback fluid and the future development direction are further expounded.