The invention discloses a brake failure protection elevator. The brake failure protection elevator comprises an elevator shaft, wherein a working cavity is formed in the elevator shaft, an elevator is arranged in the working cavity in an up-down sliding mode, an elevator fixed pulley is installed at the upper end of the elevator, a driving motor is fixedly arranged at the upper end of the elevator shaft, a motor rotating shaft is rotatably arranged at the front end of the driving motor, and an installation frame is fixedly arranged at the upper end of the elevator shaft. When an elevator brake fails or a steel cable on a balancing weight is broken, the elevator starts to fall, meanwhile, the sliding speed of the steel cable is increased, a traction disc is driven to rotate rapidly, a protection device is automatically started, a brake jamming tooth is automatically lifted to jam the traction disc, continuous rotation of the traction disc is limited, meanwhile, a second brake pad automatically stretches out, and the steel cable is jammed on the traction disc which is jammed and static, so that the elevator is prevented from continuously falling, and the life safety of passengers in the elevator is guaranteed.