Multi-well hydrofracturing is an important technology for forming complex fracture networks and increasing reservoir permeability. The distribution and design of horizontal wells affect fracture propagation; however, it is still unclear how the spacing between adjacent wells leads to fracture propagation, deflection and connection. In this study, the thermal-hydro-mechanical coupling effect in the hydrofracturing process is comprehensively considered and a multi-well hydrofracturing model based on the finite element–discrete element method is established. Using typical cases, the unstable propagation of hydraulic fractures in multiple horizontal wells under varying adjacent well spacings is studied. Combined with the shear stress shadow caused by in situ stress disturbed by fracture tip propagation, quantitative indexes (such as length, volume, deflection and unstable propagation behaviors of hydrofracturing fracture networks) are analyzed. The results show that the shear stress disturbance caused by multiple hydraulic fractures is a significant factor for multi-well hydrofracturing. Reducing well spacing will increase the stress shadow area and aggravate the mutual disturbance and deflection between fractures. The results of quantitative analysis show that the total length of hydraulic fractures decreases with the decrease of well spacing, and the total volume of hydraulic fractures increases with the decrease of well spacing. The results of unstable propagation and stress evolution of hydraulic fracture networks considering thermal-hydro-mechanical coupling obtained in this study can provide useful guidance for the valuation and design of hydrofracturing fracture networks in deep unconventional oil and gas reservoirs.