The invention discloses a waste paper deinking agent. The waste paper deinking agent is composed of, by weight, 40%-50% of a non-ionic surface active agent, 35%-40% of lipase microcapsules and 20%-30% of auxiliary materials. The waste paper deinking agent is suitable for deinking treatment of waste corrugated paper, waste newsprint, colored offset newsprint, paper of waste books and magazines, office waste paper and laser and electrostatic copying paper. Microencapsulation is conducted on lipase, preparation is easy, the stability is strong, when the microcapisulazed lipase is added in a chemical deinking agent, the activity of the lipase is maintained, the chemical deinking agent is rich in components, and dosing is scientific; after waste paper pulp is added, the lipase is slowly released, deinking can be conducted by using a chemical method and a biological method simultaneously, the waste paper deinking effect is good, the whiteness is high, the dirt count is small, fibers are soft, the reutilization performance is strong, the degree of contamination of sewage in the later period is small, the treatment is easy, the cost is reduced, and the environment is protected.