In order to improve the performance of carboxymethyl hydroxypropyl guar（CMHPG）acid fracturing fluid and meet the needs of high temperature deep well reservoir fracturing，an organic cross-linking agent was synthesized，a CMHPG acid fracturing fluid，composed of 0.3%—0.6% CMHPG，0.6%—1.0% organic cross-linking agent ZJ-1，0.6% conditioning agent TG-1，0.2% clay stabilizer NW-1 and 0.3% high-efficiency clay stabilizer G-ZP，was prepared and the temperature and shear resistance，viscoelasticity，filtration property，gel-breaking performance and the matrix damage of the fracturing fluid upon core were investigated. The results showed that the continuous shear viscosity of the system containing 0.6% CMHPG and 0.75% organic cross-linking agent ZJ-1 was more than 200 mPa·s when sheared at the temperature of 130℃ and at the shearing rate of 170 s^-1 for 90 min，and more than 100 mPa·s when sheared at the temperature of 150℃ and at the shearing rate of170 s^-1 for 90 min，indicating great temperature and shear resistance. Viscoelastic test results showed that the G'/G" of the acid fracturing fluid with the CMHPG content of 0.3% was greater than 4，exhibiting the strong structure viscosity and great sand-carrying performance. When 0.05% gel breaker was added，the system could be broken within 1.5 hours at the temperature of 90℃ with the viscosity of breaking solution less than 3 mPa·s，gel breaking residue of 157 mg/L，anti-swelling rate of 93%，surface tension of 23.9 mN/m and interface tension of 0.85 mN/m. The damage rate of matrix permeability of the reservoir core was 16%，and the damage to the reservoir and filtration loss was relatively low. The CMHPG acid fracturing fluid system was applied in a shale oil exploration well and achieved good application results.