The invention is suitable for the technical field of materials, and provides double-effect modification slurry for a seabed hydrate reservoir, application and an application method.The double-effect modification slurry is prepared from, by mass, 10-25% of a reaction base solution A, 10-20% of a reaction base solution B, 40-60% of a permeation enhancer, 0.1-1% of a reaction control agent, 0.3-2% of a reinforcing agent, 5-10% of a viscosity reducer and 1-5% of a clay stabilizer. According to the present invention, the rapid curing can be performed in the seabed hydrate reservoir temperature pressure environment to form the stable porous support network skeleton with characteristics of high flow conductivity and high strength, and the strong cementation effect with the sediment can be provided, such that the reservoir permeability is improved, the reservoir stability is increased, the double-effect modification of the natural gas hydrate reservoir is achieved, and the construction cost is reduced. Safe and efficient development of the natural gas hydrate is facilitated. In addition, the slurry can also be applied to the field of transformation and yield increase of soft and loose reservoirs such as coal seams, mud layers and weak cemented sand layers, the problems of crack closure, support failure and the like in the transformation process of the loose or soft unconventional oil and gas reservoir can be effectively solved, the purposes of yield increase, stable yield and high yield are achieved, and the development period is prolonged.