The invention discloses a conductive system of a full water-cooled six-electrode yellow phosphorus furnace. The conductive system comprises a transformer wire outlet terminal, wherein the transformer wire outlet terminal is divided into 3 phases, each phase consists of 4 wire outlet terminals (namely four vertical copper bars), each wire outlet terminal is directly connected with two compensators, the tail end of each compensator is connected with a short net copper pipe, the short net copper pipes are connected with a water-cooled cable, and the water-cooled cable is connected with an electrode copper bush; and two parallel compensators are fixedly connected to each copper bar, the compensators are tube-sheet water-cooled compensators, the same ends of the two compensators are communicated with each other through a U-shaped pipe, the other end of each of the two compensators is connected with a short net copper pipe, and a turning connecting sleeve is arranged at the joint of the short net copper pipes and the water-cooled cable and another turning connecting sleeve is arranged the joint of the water-cooled cable and the electrode copper bush. Through the tube-sheet water-cooled compensators and the turning connecting sleeves, the short net copper pipes are reasonably connected with the water-cooled cables and the water-cooled copper bushes, so that fracture in the moving process of electrodes is effectively prevented, the service life of equipment is prolonged, and the energy consumption is reduced.