The invention relates to an oil and gas well fracturing flow-back fluid treatment method. The method comprises the steps that fracturing flow-back fluid flowing back from an oil well mouth enters a buffer tank to be oxidized, a conditioning agent is added into the oxidized fracturing flow-back fluid, the PH of the oxidized fracturing flow-back fluid is adjusted to range from 7.5 to 9, the adjusted fracturing flow-back fluid is fed into a reactor through a lift pump, a treatment agent is added into the fracturing flow-back fluid in the reactor, sufficient mixing and reaction are achieved to generate floccule, the reacted mixture is pumped into a solid-liquid separation device for solid-liquid separation, solid phases obtained after separation are directly discharged out of the solid-liquid separation device, liquid phases obtained after separation enter a fine treatment device, and suspended matter, chromaticity and large-particle ions are removed further. Up-to-standard release and recycle of discharged water are achieved, the fracturing flow-back fluid is treated, flocculating settling, solid-liquid separation and filtering and clarification are efficiently and continuously achieved for oil and gas well fracturing flow-back fluid in an oil field, and the purposes of recycling, up-to-standard release and reinjection into a reservoir are achieved.