The invention provides an air suspension propping agent for fracturing slickwater as well as a preparation method and an application method of the air suspension propping agent. The air suspension propping agent comprises aggregate particles; a hydrophobic and aerophilic coating is cured on the aggregate particles; the hydrophobic and aerophilic coating is prepared by curing hydrophobic and aerophilic emulsion through reacting; the hydrophobic and aerophilic emulsion is prepared from a fluorine-containing polymerized monomer, a macromolecular adhesive, a silane coupling agent, a surfactant and de-ionized water through polymerization reaction. When the air suspension propping agent is used in a slickwater fracturing process, 10 percent to 20 percent of nitrogen gas is injected; the hydrophobic and aerophilic coating can be used for adsorbing tiny air bubbles formed by the nitrogen gas in the slickwater, so that the propping agent still has a suspension state under a low viscosity condition and the aim that cross-linking liquid carries sand is realized, and furthermore, the viscosity of fracturing liquid does not need to be improved by utilizing lots of organic matters; damages to a stratum are not caused and backflow is facilitated; the air suspension propping agent has very important meanings on production increasing of unconventional oil-gas reservoirs.