With the increasing concern of the oil industry about cost reduction and environmental protection，ever more attention has been paid to the research on the working fluid capable of both fracturing and oil displacement. For the further study on the fracturing-oil displacement integrated working fluid，the research on the composition，the oil displacement performance，and the field application of the oil displacement system of fracturing flowback fluid and the oil-displacement fracturing fluid system were reviewed，and future developments were forecasted. The construction of the oil displacement system of fracturing flowback fluid is based on clean fracturing fluid，especially the one with cationic surfactant as the main component；the oil-displacement fracturing fluid system includes the ones based on clean fracturing fluid，polymer，slickwater，etc.，among which the clean oil-displacement fracturing fluid system with enhanced efficiency presents the greatest potential. Reducing cost，enhancing high temperature resistance，and strengthening the study on microstructure and static and dynamic rheological properties are the keys to the future research on the fracturing-oil displacement integrated working fluid. The comparison between the field application and laboratory test results demonstrates that further improving the oil displacement system of fracturing flowback fluid also represents an important direction for the future work.