Relating to the technical field of fracturing fluids used for petroleum exploitation, the invention discloses a self-gas-generating foam fracturing fluid, its production method and application method. The elf-gas-generating foam fracturing fluid is composed of a base solution and a reaction solution. The base solution consists of: hydrolyzed polyacrylamide, sodium nitrite, ammonium chloride, a foaming agent, a clay stabilizing agent, a bactericide and water. The reaction solution comprises, by weight part: aluminium trichloride, hydrochloric acid and water. The foam fracturing fluid has the advantages that: it releases a lot of inert gas during reaction, increases pressure of the reservoir stratum, has good discharge aiding ability and simultaneously forms a foam structure, substantially reduces filter loss property, and reduces the harm of the fracturing fluid on the reservoir stratum; it can be crosslinked under a weak acid condition (pH=4.0-6.0), thus avoiding alkali sensitivity and reducing the harm to the reservoir stratum. Compared with the technology of injection along with liquid nitrogen, the application method of the invention reduces construction cost, simplifies construction procedure, and avoids safety problems caused by liquid nitrogen storage.