The invention relates to an induction furnace, a system for production of calcium carbide liquid with the induction furnace and a method. The induction furnace consists of a crucible, a quartz sand layer, a furnace shell and a furnace cover, the crucible top is provided with an opening, and a discharge port is disposed at the upper part of the side wall. The quartz sand layer is a shell with an open top, and the crucible is located in the inner cavity of the furnace shell. The furnace cover is located above the crucible top opening. An asbestos board is disposed outside the side wall of the quartz sand layer, the outside of the asbestos board is surrounded by an induction coil, and the outside of the coil is equipped with a water-cooled pipe. A casting body is fixed between the bottom of the quartz sand layer and the bottom of the furnace shell. The system for production of calcium carbide liquid with the induction furnace provided by the invention can make full use of the powder raw material that cannot be consumed by traditional airtight furnaces, and reduces the loss of powder.