The invention provides a large-capacity cable sheath overvoltage limiter, which comprises an inner hollow jacket, two electrode sheets arranged inside the jacket and arranged at two inner ends of thejacket, and a plurality of varistor sheets stacked between the two electrode sheets, wherein the varistor sheet contains a grain growth promoting agent for promoting grain growth to lower potential gradient of the varistor sheet and increasing the size of the varistor sheet. According to the overvoltage limiter provided in the invention, the cross-sectional size or the height of the varistor sheetis increased when the voltage is certain, the current capacity, the energy absorption capability and the TOV tolerance of the varistor sheet are thus enhanced, the phenomenon that self damages are caused due to insufficient absorption capacity in the case of single-phase short circuit fault of the overvoltage limiter can be avoided, and after the fault is removed, a protector resumes normal operation and use, the operation reliability is high, and the power system is ensured to operate safely.