The invention discloses a surge protector with a thermal protection device, which comprises a shell, a pedestal arranged in the shell, an over-voltage suppression element arranged on one surface of the pedestal, an elastic separation device arranged on the other surface of the pedestal, and two power supply connectors. The surge protector is characterized in that the elastic separation device comprises a bow member and an extension spring; the bow member comprises a nonconductive bow body part, a conductive bowstring part and an electric arc partition board rotationally arranged on the middle part of the nonconductive bow body part; and a guide groove is formed below an electrode on the other surface of the pedestal, the free end of the electric arc partition board is positioned in the guide groove, the conductive bowstring part is connected with one of the power supply connectors through a flexible conductive wire, and the other electrode of the over-voltage suppression element is connected with the other power supply connector. Compared with the prior art, the surge protector has the advantages of preventing high current from passing through an elastic member, eliminating electric arc when the power supply is cut off, and running reliably.