Potassium humate is a kind of high efficient organic potash fertilizer, because the humic acid is a bioactive agent, which can improve the content of available potassium in soil, reduce the loss and fixation of potassium, increase the absorption and utilization of potassium, also improve soil, promote the growth of crops, improve the anti inverse ability of the crops, improve the quality of crops and guarantee the quality of crops. After mixing with urea, phosphate fertilizer, potassium fertilizer and trace element, it can be used as an efficient multifunction compound fertilizer. In addition, potassium humate can also be used as a treatment agent for oil drilling fluid, which mainly prevents the collapse of the wellbore.