The invention discloses a cut arc type lightning arrester. The cut arc type lightning arrester comprises a lightning arrester body and arc extinguishing gas pills; a pill triggering position is arranged at the bottom of the lightning arrester body; the inside space of the lightning arrester body is divided by a separation plate into a left side storage chamber and a right side storage chamber, a vertical rail used for transversely discharging the arc extinguishing gas pills is arranged inside each side storage chamber, and a slope-shaped reserve rail I and a slope-shaped reserve rail II are arranged at the bottoms of the vertical rails respectively; the reserve rail I and the reserve rail II both extend to the pill triggering position, and a movable push-pull plate is arranged at the intersecting position of the reserve rail I and the reserve rail II; the two sides of the pill triggering position are each provided with a triggering electrode I; and the triggering electrodes I are connected with an induction coil used for collecting electric signals. The cut arc type lightning arrester is simple in structure and large in number of stored pills, the pills can automatically slide downwards and advance to smoothly reach the triggering position, and the cut arc type lightning arrester is reliable in movement, stable in work and good in arc extinguishing effect.