Text data augmentation is an effective strategy for overcoming the challenge of limited sample sizes in many natural language processing (NLP) tasks. This challenge is especially prominent in the few-shot learning scenario, where the data in the target domain is generally much scarcer and of lowered quality. A natural and widely-used strategy to mitigate such challenges is to perform data augmentation on the training data to better capture the data invariance and increase the sample size. However, current text data augmentation methods either can not ensure the correct labeling of the generated data (lacking faithfulness) or can not ensure sufficient diversity in the generated data (lacking completeness), or both. Inspired by the recent success of large language models, especially the development of ChatGPT, which demonstrated improved language comprehension abilities, in this work, we propose a text data augmentation approach based on ChatGPT (named ChatAug). ChatGPT is trained on data with unparalleled linguistic richness and employs a reinforcement training process with large-scale human feedback, which endows the model with affinity to the naturalness of human language. Our text data augmentation approach ChatAug rephrases each sentence in the training samples into multiple conceptually similar but semantically different samples. The augmented samples can then be used in downstream model training. Experiment results on few-shot learning text classification tasks show the superior performance of the proposed ChatAug approach over state-of-the-art text data augmentation methods in terms of testing accuracy and distribution of the augmented samples.