This study identified LV-CMC, CMC, MV-CMC, and HV-CMC as suitable stabilizers, determining the optimal mixing ratios as 4:1 for LV-CMC and CMC, and 3:1 for MV-CMC and HV-CMC. Through experiments, the best formulations were found to be: 1.5% LV-CMC, 1.5% modified plant phenol, and 0.01% polyaluminum chloride; 0.40% CMC, 1.5% modified plant phenol, and 0.03% polyaluminum chloride; 0.40% MV-CMC, 1.5% modified plant phenol, and 0.02% polyaluminum chloride; 0.30% HV-CMC, 1.5% modified plant phenol, and 0.01% polyaluminum chloride. The results showed that these formulations significantly inhibited the hydration swelling of bentonite. At 30 °C, the formulation with CMC exhibited the best inhibition effect, with a linear swelling rate of 10.55% after 120 min. At 90 °C, the formulation with HV-CMC showed the best effect, with a linear swelling rate of 16.98%. This inhibition is attributed to the adsorption of potassium ions from the guar gum fracturing flowback fluid into the clay layers of montmorillonite, which prevents the infiltration of water molecules.