Abstract This study investigates whether hydraulic fracturing contributed to the 2021 Ms 6.0 Luxian earthquake in the Sichuan Basin. Time‐series InSAR analysis of multi‐temporal Sentinel‐1 data reveals coseismic deformation associated with the 2021 Luxian earthquake and localized uplift near hydraulic fracturing platforms. We then developed a three‐dimensional poroelastic model to simulate pore‐pressure changes and stress perturbations caused by water injection from both nearby and distant platforms. The results show that both water injection from the single platform above the coseismic fault and cumulative injection from multiple distal platforms increase Coulomb stress on the sedimentary‐layer fault. However, for the basement fault, the induced Coulomb stress remains below 0.01 MPa in all cases. The optimal fault‐slip mechanism derived from the injection model aligns with the inverted coseismic slip pattern in the maximum‐slip zone. These results suggest that hydraulic fracturing brought the sedimentary‐layer fault closer to instability and may have exacerbated rupture during the Luxian earthquake.