Abstract: The present disclosure discloses a one-component type multi-functional fracturing fluid additive and a process for preparing the same. The process the following steps: mixing ethylene glycol, isopropanol, 1-butanol, 1-hexanol and 1-octanol, and heating to uniformly disperse the mixture to obtain an aqueous dispersant; adding a high molecular polymer thickener and an auxiliary agent to the aqueous dispersant, and stirring the mixture at a high speed to obtain a suspension, wherein the auxiliary agent is one or more selected from clay stabilizers, drainage aids, drag reducers, emulsion inhibitors, filtrate reducers, corrosion inhibitors and fungicides; and slowly stirring the suspension at a low speed, and cooling the suspension to room temperature to collect a sample of suspension. This auxiliary agent has good characteristics such as temperature resistance, shear resistance, salt resistance, and sand suspension.