The invention discloses a high temperature resistant oil-in-water drilling fluid, which is realized through the following technical scheme of: (1) by mass, mixing 3.0%-4.0% of sodium bentonite, 0.2%-0.5% of NaOH, 0.1%-0.3% of a temperature and salt resistant filtrate reducer A, 0.2%-0.5% of a carboxymethylcellulose sodium salt, 2.0%-3.0% of sulfonated phenolic resin, 0.8%-2.0% of sulfonated lignite, 0.05%-0.15% of a high temperature stabilizer B, 1.0%-3.0% of an anti-high temperature emulsifier C, 3%-7% of KCl, 2%-5% of asphalt, and the balance water to obtain an aqueous phase; (2) mixing the aqueous phase obtained in step (1) with diesel oil or white oil according to a volume percentage of 7:3, 6:4, 5:5, 4:6 and 3:7 and performing emulsification, and then carrying out high temperature aging to obtain the high temperature resistant oil-in-water drilling fluid. The formed high temperature resistant oil-in-water drilling fluid has temperature resistance up to 180DEG C and a lowest density of 0.88g / cm<3>, can effectively prevent formation leakage of low pressure depleted oil and gas zones, is conducive to enhancement of the productivity of oil-gas wells, and is suitable for the technical field of petroleum drilling and development of low pressure oil and gas reservoirs.