To seek for efficient Fenton-like oxidation processing for treatment of waste fracturing fluid containing hydroxypropyl guar gum (HPGG), in heterogeneous reaction, five bentonite-supported zero-valent metal catalysts were prepared by liquid-phase reduction. The results showed that the bentonite-supported zero-valent copper exhibited best catalytic performance, attributed to the high dispersion of active sites of zero-valent copper. The effects of the most relevant operating factors (H2O2 concentration, catalyst dosage, temperature and pH) were evaluated in detail. Moreover, the chemical oxygen demand removal rate of HPGG can achieve 76% when the reaction time was selected at 45 min under optimal experimental conditions. The stability evaluation showed that the catalytic performance was almost unaffected after the catalyst was recycled and used once more showing the good stability of the bentonite-supported zero-valent copper in the application process.