The invention provides a ZnO resistor disc. The resistor disc is prepared from, in percentage by mass, 85%-95% of ZnO, 0.5%-5% of Bi2O3, 0.05%-0.5% of Co3O4, 0.5%-2.0% of NiO, 0.1%-2.0% of MnO, 2.0%-8.0% of Sb2O3, 0.01%-1.0% of SiO2, 0.01%-1.0% of Er2O3 and 0.1%-2.0% of Ag2O. The provided resistor disc has the diameter larger than or equal to 115 mm, the varistor voltage gradient reaches 450 V/mmor above, the residual voltage ratio is smaller than or equal to 1.58, 2ms square wave withstanding current is larger than or equal to 2,000 A, 4/10 mu s large-current impact withstanding current is 100 kA, the ageing coefficient is smaller than or equal to 1.1, and the varistor voltage change rate is smaller than 6% after impact of 8/20 mu s impulse current with the peak value of 3,000 A. According to the technical scheme, the preparation process is simple, the technology economy is high, and existing manufacturing equipment of ZnO resistor discs for lightening arrestors can completely meet the industrial production demands.