The present invention relates to a milk-like friction reducer used in slick water fracturing and belongs to the technical field of oilfield chemicals. This friction reducer is obtained via free radical polymerization in water by using component A, component B and component C; wherein said component A is a mix of nonionic water-soluble monomers having carbon-carbon double bond; wherein said component B is a mix of water-soluble polymeric stabilizers obtained from monovalent cationic monomers; and wherein said component C is a mix of monovalent inorganic salts. The present invention is environmentally-friendly and easy to use. Its subsequent friction reducer is convenient to add on-the-fly and leads to no foaming without adding anti-foamer. Moreover, unlike other regular friction reducers, it is tolerant with various brines and compatible with common oilfield additives. The subject friction reducer can achieve an extent of friction reduction of greater than 70%.