The invention relates to the technical field of welding powder of welding materials, in particular to exothermic welding powder. The welding powder comprises alloy powder and composite powder particles, wherein the alloy powder comprises, by weight, 49-50% of copper, 47-48% of aluminum, 0.8-1.2% of calcium, 0.8-1.2% of tin, 0.4-0.6% of iron, 0.1-0.3% of carbon, 0.1-0.3% of rare earth and 0-0.2% ofsilver, and the composite powder particles comprises, by weight, 12-16 parts of aluminum powder, 18-24 parts of copper oxide powder and 3-5 parts of slag-making agents. According to the exothermic welding powder, the composite powder particles are added into the alloy powder, by triggering the chemical reaction in the composite powder particles, a lot of heat are released, the fluidity of moltenmetal is greatly increased, the replacement reaction rate of the exothermic welding powder is speeded up, meanwhile, mixing of raw materials is more even, after cooling, the connection strength is good, the surface is smooth, and the welding part quality is stable.