The rock mechanical parameters and failure morphology characteristics of shale are essential technical parameters and references for the selection of favorable intervals and process optimization in stimulation and reconstruction. In view of the abundant development of foliation fractures, severe heterogeneity, and unclear fracture morphology in the Gulong shale, through rock mechanical testing and hydraulic fracturing physical simulation, key mechanical parameters and quantitative relationships of anisotropy for the entire layer series of Gulong shale were obtained, and the influence of anisotropy and foliation differences in mechanical parameters on the shape of artificial fractures was clarified. The experimental results show that the rock mechanical parameters and failure morphology of Gulong shale exhibit significant brittleness characteristics, which changes the understanding of using clay content to distinguish the fracturability of shale reservoirs. Affected by foliation development and heterogeneity, the differences in rock mechanical parameters and anisotropy between parallel and vertical foliation directions are severe, with high compressive strength and Young’s modulus in parallel foliation directions, and low tensile strength and fracture toughness. The degree of foliation fracture development has a significant impact on the initiation pressure and swept volume of artificial fractures. After hydraulic fracturing, artificial fractures exhibit a complex network morphology resembling a “banyan tree” with crisscrossing patterns in the horizontal direction, with complex morphology but limited fracture length and height extension. This is an important factor that restricts the volume and effectiveness of the reconstruction.