The productivity of shale reservoirs was significantly enhanced by the high-temperature CO2 fracturing technique. The injection of high-temperature CO2 into the formation induced rock fracture propagation, creating advantageous pathways for fluid flow. In this research, a self-developed in situ high-temperature convective heat simulation experimental apparatus was employed to systematically conduct simulated experiments on high-temperature CO2 fractured shale under different influencing factors. The experimental results demonstrated that the permeability of CO2 increased as the injection temperature increased. The rock fracture pressure was effectively reduced by high-temperature CO2 fractured shale. Higher complexity was observed in fracture propagation, accompanied by a substantial increase in microcracks and branching fractures. The shale fracture pressure increased with increasing triaxial stress and CO2 injection rate. The confining pressure restricted the further propagation of fractures under relatively high stress conditions, thereby reducing the width and density of fractures, lowering the fracture complexity. Nevertheless, the thermal shock effect of the fluid was exacerbated as the injection rate of high-temperature CO2 increased. The initiation of microcracks was facilitated by the intensification of local thermal stress in shale, inducing multiple curved fractures and forming a more complex fracture network. Compared to horizontal bedding shale, the fracture pressure of vertical bedding shale was relatively higher during high-temperature CO2 fracturing. In addition, the geometric morphology of fracture propagation was more complex, characterized by rougher fracture surfaces, leading to a greater improvement in reservoir reconstruction volume. This research contributed to the optimization of CO2 resource utilization, provided experimental evidence for the application of high-temperature convection fracturing technology in in situ shale conversion projects.