The invention discloses resistance paste with high electrothermal conversion rate. The resistance paste comprises the following components in percentage by weight: 20%-40% of an organic phase, 50%-70% of a conductive phase, 8%-18% of glass powder and 0.3%-1.0% of aluminum nitride powder, wherein the organic phase is a mixture of multiple dibasic acid esters; the conductive phase is prepared from one or two of nano/micron flake silver powder and nano/micron spherical silver powder; the glass powder is lead-free glass powder; and the aluminum nitride powder is spherical or fibrous nano powder. The electrothermal conversion rate of the resistance paste disclosed by the invention can reach 95%; the stability is good; the high temperature resistance is excellent; and the resistance paste is good in adhesive force with a base material and does not easily fall off.