The invention discloses an emergency stop device of a transformer substation hot-line work robot, selects a composite button, and provides a new method for wiring in a failure safety mode. Two pairs of normally closed contacts are connected to the positive electrode end of a power supply in series, and two pairs of normally open contacts are connected to the negative electrode end of the power supply in parallel; the method comprises the following steps of: converting circuit connection by utilizing a composite button, connecting a coil, a diode, a capacitor and a resistor of the direct current contactor in parallel to form an RLC parallel oscillating circuit, pressing the composite button in an emergency state, disconnecting a normally closed contact, and enabling current flowing through the coil to form a path through the diode so as to eliminate residual magnetism of the iron core of the direct current contactor. Overvoltage caused by coil current abrupt change is prevented; when the direct-current contactor is started, the normally open contact is closed, the direct-current contactor coil, the diode, the capacitor and the resistor are connected in parallel to form an RLC parallel oscillation circuit, oscillation current is generated, residual magnetism of the iron core of the direct-current contactor is eliminated in time, and therefore the technical problems that in the prior art, reliability is poor, and quick-action performance is poor are solved.