Hydraulic fracturing is a complex nonlinear hydro-mechanical coupled process. Accurate numerical simulation is of great significance for reducing fracturing costs and improving reservoir development benefits. The aim of this paper is to propose an efficient numerical simulation method for the fracturing-to-production problem under a unified framework that has good convergence and accuracy. A hydro-mechanical coupled fracturing model (HMFM) is established for poroelastic media saturated with a compressible fluid, and the local characteristics of the physical field are fully considered. Each fracture is explicitly characterized using the discrete fracture model (DFM), which can better reflect the physical characteristics near fractures. Based on the extended finite element method (XFEM) and the Newton–Raphson method, a fully coupled approach named Unified Extended Finite Element (UXFEM) is developed, which can solve the nonlinear system of equations that describe the solution under a unified framework. UXFEM can accurately capture the local physical characteristics of different physical fields on the orthogonal structured grids. It realizes the grid-fracture decoupling, and fractures can propagate in any direction, which shows greater flexibility in simulating fracture propagation. The fully coupled approach can better reflect the essential relationship between pressure, stress, and fracture, which is beneficial to studying hydro-mechanical coupled problems. To validate the UXFEM, UXFEM is compared with the classical KGD model, analytic solution, and COMSOL solution. Finally, based on UXFEM, the interference phenomenon and fracturing-to-production study are carried out to prove the broad practical application prospect of this new fully coupled approach.