The invention relates to a conductive sealant and an application of the conductive sealant to cable manufacture. The conductive sealant comprises the following raw materials of, by weight, 100 parts of liquid butyl rubber, 2-3 parts of polyurethane prepolymer, 5-10 parts of a cross-linking agent, 50-100 parts of a conductive filler, 1-5 parts of a silane coupling agent and 0.2-1 part of an anti-aging agent. The sealant is filled in a gap of a stranded conductor, the gap in the conductor and a gap between the conductor and an insulator are sealed so as to guarantee that a produced cable meets the requirement of axial water resistance, and a cable material which is sealed by the sealant has double functions of simultaneously stopping water and equalizing electric fields and can be widely used as an underwater cable.