The invention discloses an arc stabilizer for underwater wet welding. The arc stabilizer comprises a high-pressure gas inlet pipeline, a shielding gas inlet pipe, a solder wire, a cooling water inlet pipeline, a cooling water outlet pipeline, a conducting rod, a blocking plate, a welding nozzle, iron cores, magnet exciting coils and a protective cover. The whole device is in a cylindrical structure which is covered by the protective cover and is sealed except gas and water inlet and outlet pipes, the protective cover is made of an insulating material and is insulated from a conducting nozzle, a high-pressure gas pipeline is arranged inside the protective cover, and gases enter the device from the high-pressure gas inlet pipeline on the upper portion. The conducting rod is arranged at the center, the solder wire penetrates through the middle of the conducting rod, a circle of shielding gas channel surrounds the conducting rod, and shielding gases enter the device through the shielding gas inlet pipe. Four iron cores are arranged on the external circle, and magnet exciting coils are twined in the middle of iron cores. Cooling water is filled around iron cores and is injected from a water inlet pipeline, and the water outlet pipeline is directly connected with environmental water. According to the arc stabilizer, a large amount of water is drained through high-pressure gases, a half-dry environment is produced for electric arcs in a water environment, and simultaneously, magnetic constraint is conducted through a magnetic control device to stabilize underwater welding arcs.