The invention discloses efficient cross-linking and low damage fracturing fluid. The efficient cross-linking and low damage fracturing fluid is prepared from the components in percentage by mass: 25%-65% of a thickening agent, 15%-45% of a cross-linking agent, 0.06%-1% of a PH regulator, 0.1%-0.3% of a clay stabilizer, 0.8%-2% of a discharge aiding agent, 0.5%-2% of a waterproof locking agent, 0.01%-0.06% of a bactericide, 0.01%-0.05% of a gel breaker and 40%-60% of water. The fracturing fluid uses fast dissolving guar gum (super HPG), the swelling time is smaller than 3 min, continuous blending is met, material consumption is reduced, the gel state is good, the delayed cross-linking time can be regulated, friction resistance is effectively lowered, a powdery plugging agent is adopted to realize multilayer steering in seams and between the seams, a complex seam net is formed, the compact oil and gas transformation effect is improved, by setting one or more of montmorillonite, kaolin, illite or chlorite as the clay stabilizer and starting with dissecting of different clay mineral damage mechanisms, targeted technological means are adopted, clay mineral damage caused by extraneous fluids is controlled to the utmost extent, and thus the matrix permeability is ensured.