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The main purpose of this paper is to derive a new perturbation theory (PT) that has converging series. Such series arise in the nonlocal scalar quantum field theory (QFT) with fractional power potential. We construct a PT for the generating functional (GF) of complete Green functions (including disconnected parts of functions) Z j as well as for the GF of connected Green functions G j = ln Z j in powers of coupling constant g. It has infrared (IR)-finite terms. We prove that the obtained series, which has the form of a grand canonical partition function (GCPF), is dominated by a convergent series—in other words, has majorant, which allows for expansion beyond the weak coupling g limit. Vacuum energy density in second order in g is calculated and researched for different types of Gaussian part S 0 [ ϕ ] of the action S [ ϕ ] . Further in the paper, using the polynomial expansion, the general calculable series for G j is derived. We provide, compare and research simplifications in cases of second-degree polynomial and hard-sphere gas (HSG) approximations. The developed formalism allows us to research the physical properties of the considered system across the entire range of coupling constant g, in particular, the vacuum energy density. [ABSTRACT FROM AUTHOR]