A purpose of the present invention is to solve the shortcomings in the prior art and provide a novel high-capacity alternating current metal oxide varistor, wherein material improving is performed to further increase the insulation performance, and particularly environmental protection and various excellent properties are achieved. In order to achieve the technical effect, the specific technical scheme of the present invention comprises that: the high-capacity alternating current metal oxide varistor comprises, by mass, 79-86% of ZnO, 3.5-5.8% of Bi2O3, 1.8-3.6% of Co2O3, 2.2-3.6% of NiO, 0.6-3.2% of MnCO3, and 2-6.4% of sliver powder glass. Compared with the high-capacity alternating current metal oxide varistor in the prior art, the high-capacity alternating current metal oxide varistor of the present invention has the following characteristics that: antimony oxide with heavy pollution is not used, the manganese carbonate content is controlled, the pollution is reduced, the new silver powder glass material is introduced, and the actual test results show that the production cost is reduced, the durability of the product is improved, and the good technical effect is achieved.