The repeating fast radio burst (FRB) source that produced FRB 121102 was recently localized in a star forming galaxy at z=0.193, which is associated with an extended radio source at the burst location. One possibility is that the repeating FRBs are produced by a new-born magnetar, which also powers the radio nebula. If so, the magnetar may produce γ-ray emission due to magnetic dipolar spin-down. The luminosity depends on the magnetar spin parameters and age. We process the eight-year Fermi LAT data at the position of FRB 121102 and place an energy flux upper limit of ∼10−11ergcm−2s−1 in time bins with six-month intervals, and an accumulated energy flux upper limit of ∼4×10−12ergcm−2s−1 over the eight year span. The corresponding γ-ray luminosity upper limits are ∼1045ergs−1 and ∼4×1044ergs−1 for the time-resolved and time-integrated analyses, respectively. We discuss the implications of these limits on the young magnetar model.