The invention relates to a cerium-containing polysiloxane compound. The cerium-containing polysiloxane compound is prepared by reacting cerium organic complexes and polysiloxane with the following structural formula of A at high temperature with input oxygen-containing gas, wherein R1 is methyl or phenyl, R2 is alkyl or halogenated alkyl of C1-4, R3 is phenyl or halogenated phenyl, m is an integer between 5 and 1000, n is an integer between 0-500, p is an integer between 0 and 500, X is an integer between 2 and 5, and Y is an integer between 0 and 100. The cerium-containing polysiloxane compound is applicable to high-temperature antioxidants, and when added into corresponding silicone oil at a relatively low concentration at the temperature of 100 DEG C or below, can significantly improve the heat resistance of the silicone oil and further ensure long-time storage stability. The cerium-containing polysiloxane compound can be applied to preparing stable high-temperature lubricating oil, conducting oil or relevant working liquid as well as silicone oil-based lubricating grease, paint, adhesives and the like with high heat-resisting requirements.