The present invention provides a high-efficiency self-generated gas foam fracturing fluid and a construction method. The foam fracturing fluid is composed of a base fluid, a gas-generating fluid and a heat-generating agent, wherein the mass ratio of the base fluid, gas-generating fluid, and heat-generating agent is 100: (30‑42): (5‑9). During construction, the base fluid and the gas-producing fluid are pumped downhole together through the suction of the sand mixing truck according to the mass ratio, and the heat generating agent is pumped into the downhole along with the proppant. The invention does not need liquid nitrogen accompanying injection, simplifies the on-site process and reduces the construction cost, and a large amount of gas generated through the chemical reaction achieves the purpose of increasing the energy of the formation, improving the flow capacity of the reservoir liquid, and increasing the output. It can quickly generate a large amount of inert and safe gas, and will not produce toxic gas of nitrogen oxides, reducing construction risks. At the same time, the alkaline environment generated by the reaction product is conducive to the formation of fracturing fluid gel and the corrosion protection of downhole pipe strings. By generating foam, the Jiamin effect is used to increase the net pressure of the formation, which can quickly flow back, generate heat in the deep formation to promote gel breaking, and reduce the damage of fracturing fluid to the reservoir.