The invention discloses an anti-oxidation protective agent for a composite roll. The anti-oxidation protective agent comprises, by weight, 5-15 parts of quartz sand, 15-25 parts of fluorite, 10-20 parts of borax pentahydrate, 22-35 parts of soda ash and 10-20 parts of wollastonite. Once the anti-oxidation protective agent is applied, a large amount of gas is given out, each die cavity is full of the gas, air is pushed out, and oxygen is isolated. As an anti-oxidation agent reaction proceeds, gas is constantly given out, and the die cavities are in an oxygen-free state in the centrifugal casting process. Along with the reaction under high temperature, the anti-oxidation agent gradually gets into a glassy state, has lower viscosity and surface tension and is perfectly attached to the surface of liquid metal, oxygen is further isolated, and slag falling is prevented. A material in a glassy state is lower in density and floats upwards more quickly and more thoroughly when inner metal is cast, and slag inclusion is avoided. The specific gravity and the density are low, the one-shot usage amount of the anti-oxidation protective agent is only equivalent to 80% that of O type glass scum by weight, and cost performance is higher.