Disclosed are a flame retardant composition for a cable covering material and an ocean cable using the same. The flame retardant composition of the present invention includes 100 parts by weight of a base resin; 30˜150 parts by weight of a flame retardant; 1-30 parts by weight of a cold resistant plasticizer; 0.5˜10 parts by weight of a silane coupling agent; 0.5-8 parts by weight of a co-crosslinking agent; and 3-20 parts by weight of a crosslinking agent, and the ocean cable using the same. The composition for a cable covering material according to present invention has an excellent oil resistance to oil components without deteriorating mechanical properties, and has a superior durability such as a cold resistance at −40° C. as well as minimally generates toxic gases upon firing and has an excellent flame retardancy.