A foam drilling fluid is prepared from, in percentage by mass, 2%-4% of a first foaming agent, 1%-2% of a second foaming agent, 1%-3% of inorganic fibers and the balance of water, wherein dosage of the first foaming agent is the double of that of the second foaming agent. Under the normal-temperature and normal-pressure conditions, the inorganic fibers are dispersed in deionized water for prehydration treatment for 8-12 h, then the first foaming agent and the second foaming agent are added and evenly stirred at 60-80 DEG C, the mixture is foamed at the rotating speed of 5,000-8,000 rpm for 3-5 min, and the foam drilling fluid is prepared. The foam drilling fluid has good foaming capacity, high high-temperature-resistant and anti-pollution capacity, good dynamic yield point, good yield point and plastic viscosity ratio, good suspension property, higher inhibitive ability and proper water loss, can maintain the higher rate of penetration and water and rock carrying capacity in the drilling process and effectively solves the complex problems of wellbore instability, tool sticking, reservoir pollution and the like.