The invention discloses a composite water-cooled cable comprising an inner hose, an outer hose arranged outside the inner hose, a shielding layer arranged outside the outer hose, a flame-retardant layer arranged outside the shielding layer, an armored layer arranged outside the flame-retardant layer, and an outer protection sheath arranged outside the armored layer. The inner hose has an insulating layer; a plurality of leads are arranged between the inner hose and the insulating layer; and a lead protection layer is arranged outside each lead. A plurality of fibers are arranged in the insulating layer; and a fiber protection layer is arranged outside each fiber. Besides, a first water cooling channel is formed between the inner hose and the outer hose. The cable has the good heat dissipation effect.