The exploitation and exploration of shale gas is of great values to solve the energy problem. Taking the shale from Silurian Longmaxi formation in Sichuan Basin as an example, its geological characteristics and reservoir chemical reaction under the action of fracturing fluid were analyzed, and moreover, a series of data determination and fracturing fluid chemical reaction experiments were carried out. The results showed that the average total organic carbon value of shale in the study area was 4.79%, the kerogen type was type I, the ratio of aliphatic structure to aromatic structure was smaller than 1, the average R O value was 2.15%, the content of clay mineral in the mineral composition was high, the average porosity was 3.16%, and the average permeability was 0.036 × 10 3 μm 2 , which was conducive to shale gas generation; under the action of fracturing fluid, the sulfate mineral in the shale dissolved, clay mineral expanded, and the pore volume and specific surface area reduced. The results verify that the research area has shale gas mining value, and this study makes some contributions to further study the optimization of fracturing fluid and improve exploitation technology.