The invention discloses a stem-cell coated bone fracture setting device. The device comprises medicine-carrying guard plates and a fastening device, bone fractures are fixed between two medicine-carrying guard plates, the middles of the medicine-carrying guard plates are provided with medicine-carrying guard plate stem-cell coating areas, the stem-cell coating areas are adjacent to the bone fractures, and the fastening device is used for fixing the two medicine-carrying guard plates. The fastening device is a bending flat spring and/or a memory alloy guard ring, the bending flat spring holds the two medicine-carrying guard plates tightly, and the memory alloy guard ring is fastened on one medicine-carrying guard plate in a clamping mode. The application method comprises the steps that firstly at a low temperature, the bending part of the tightly-held titanium-nickel memory alloy bending flat spring is opened and/or the U-type memory alloy guard ring is opened, so that the medicine-carrying guard plate stem cell coating areas are aligned to the bone fracture, then the opened bending flat spring is clamped on the outer sides of the medicine-carrying guard plates and ribs and/or inner lugs of the U-shape memory alloy guard ring and is aligned to through holes inside the medicine-carrying guard plates, after the deformation, the effect of fixing the upper and lower medicine-carrying guard plates and ribs is achieved.