A furnace for a substrate glass based on molybdenum electrode heating and an anti-oxidation method therefor are disclosed. The furnace includes a furnace body and a plurality of pairs of molybdenum electrodes. The molybdenum electrodes are inserted in a furnace bottom of the furnace body. One end of each molybdenum electrode located inside the furnace body is provided with a sealing sheet. A sealing gap is provided between each molybdenum electrode and the furnace bottom, the sealing gap is filled with cullet powder; and a water cooling system is provided on an outer side of a portion of each molybdenum electrode located outside the furnace body. The water cooling system includes a cooling water inlet pipe and a cooling water return pipe forming a circuit disposed on the outer side of the portion of each molybdenum electrode; and thermocouples are provided on two sides of the water cooling system.