The invention discloses a photoelectric combination sensing optical cable suitable for a continuous oil pipe. The photoelectric combination sensing optical cable comprises an optical fibre unit, an insulating conductor and at least one layer of external protective steel pipe; the optical fiber unit and the insulating conductor are integrated in the external protective steel pipe; the optical fiber unit comprises multiple optical fibers and a metallic or non-metallic material optical fiber protection pipe; the space between the optical fiber protection pipe and the multiple optical fibers is filled with hydrogen-absorbing type or non-hydrogen-absorbing type fiber paste; and the insulating conductor comprises a copper conductor and a high-temperature-resistant insulating layer which is arranged on the exterior of the copper conductor in an extrusion and coating manner. The photoelectric combination sensing optical cable has the characteristics of high temperature resistance, high voltage resistance, high corrosion resistance, side pressure resistance, reusability, low cost, small size and the like.