Accurate　and　efficient　simulation　of　dynamic　hydraulic　fracturing　of　the　saturated　porous　media　has　always　been　a　pivotal　topic　in　the　oil　and　gas　extraction.　Leveraging　the　Numerical　Manifold　Method　(NMM)　and　its　inherent　cutting　technique,　this　paper　proposes　a　fully　coupled　hydraulic　fracturing　model　based　on　the　u-p　format,　which　incorporates　the　overall　momentum　balance　and　continuity　conditions　in　both　porous　media　and　fractures.　NMM　approximations　and　the　Newmark　implicit　algorithm　are　employed　respectively　to　discretize　the　spatial　and　time　domains,　and　the　resulting　system　is　solved　based　on　the　Newton-Raphson　method.　By　imposing　flow　boundary　conditions　on　the　fracture　surfaces,　the　present　model　accounts　for　fluid　loss　without　introducing　extra　filtration　coefficients.　Using　the　Mohr-Coulomb-based　LT　criterion　and　the　maximum　circumferential　stress　criterion　to　determine　whether　crack　propagation　has　occurred　and　crack　propagation　direction　respectively,　the　present　model　is　capable　of　simulating　initiation　and　development　of　multiple　cracks　under　hydraulic　stimulations.　Through　modeling　the　KGD　hydraulic　fracturing,　hydraulic　fracturing　of　a　pre-cracked　cubic　specimen　and　fracture　interference　phenomena　during　expansion　of　multiple　fracture　ports　of　a　single　injection　well,　accuracy　and　effectiveness　of　the　model　are　validated.