The invention relates to an polycrystalline silicon reduction furnace electrode, which comprises a conical head matched with a conical hole of a graphite seat and an electrode body fixedly connected with the conical head, wherein one end of the conical head is called as an upper end, the other end is called a lower end, the electrode is characterized by also comprising a ceramic sleeve, wherein the ceramic sleeve coaxially sleeves the electrode body, the upper end of the ceramic sleeve is hermetically connected with the conical head, the center of the electrode body is provided with a cavity with a closed upper end, a plurality of through holes are arranged in the side wall, close to the upper end, in the circumferential direction, cooling water enters from the lower end of the cavity, pass through the through holes and flows out from the gap between the electrode body and the ceramic sleeve. Because the cooling water can cool the electrode body from the inner wall and the outer wall,the cooling efficiency is improved, and the service life of the electrode is prolonged; as the ceramic sleeve is adopted, the electrode body and the furnace body are well insulated, so that the electric shock danger is avoided.