The present invention discloses a seawater-based fracturing fluid and a preparation method thereof. 100 parts of the fracturing fluid comprises, by weight, 0.3-0.8 part of a thickener, 0.1-0.6 part of a cross-linking agent, 0.05-0.1 part of an oxygen scavenger, 0.02-0.05 part of a tackifying auxiliary agent, 0.05-0.2 part of gel breaker, and the balance or part of seawater, wherein the thickener modified polyacrylamide is formed by carrying out copolymerization on acrylamide, a hydrophobically modified monomer and a sulfonate, the hydrophobically modified monomer is dodecyl alkyl halide, and the cross-linking agent is an organic zirconium cross-linking agent or an organic titanium-zirconium composite cross-linking agent. According to the present invention, with the seawater-based fracturing fluid and the preparation method thereof, the technical problems of being incapable of continuously mixing, insufficient tackifying performance, poor salt resistance and poor shearing resistance of the seawater-based fracturing fluid in the prior art are solved; and the seawater-based fracturing fluid with characteristics of good tackifying, strong salt resistance, strong shearing resistance and continuous mixing and suitable for offshore oil fields is provided.