A TiO2 hollow microsphere blue algae processing agent is composed of the following raw materials in parts by weight: 12 to 16 parts of bamboo charcoal powder, 2 to 4 parts of TiO2 hollow microsphere, 0.9 to 1.2 parts of polyhexamethylene guanidine, 1 to 2 parts of dibromohydantoin, 14 to 16 parts of iron ore tailings, 14 to 18 parts of cotton seed cake, 15 to 20 parts of polymeric ferric sulfate, 7 to 9 parts of maleic acid, 5 to 7 parts of sodium hydrogen sulfite, 3 to 5 parts of hydrolytic polymaleic anhydride, 5 to 7 parts of calcium acetate, a proper amount of water, and 5 to 7 parts of absorbent aid. The cotton seed cake is added, and thus the blue algae processing agent has an antibacterial effect. TiO2 hollow microspheres are added to kill blue algae and bacteria, and organic matters can also be decomposed by the hollow microspheres. The added iron ore tailing has an oxidizing effect and thus can enhance the blue algae killing effect. Moreover the processing agent also has a flocculating effect, is capable of killing blue algae chemically, can inhibit and kill blue algae for a long term, can purify the water, prevent water oxygen deficiency, and protect other organisms, and treats both the symptoms and the roots.