The invention discloses an LED explosion-proof lamp with fast heat dissipation. The LED explosion-proof lamp includes: an LED explosion-proof lamp radiator and an LED chip encapsulated on the LED explosion-proof lamp radiator. The LED explosion-proof lamp radiator comprises: an aluminum alloy base material and a heat dissipation paint coated on the surface of the aluminum alloy base material. Theheat dissipation paint comprise the following raw materials by weight: 50-100 parts of waterborne acrylic resin, 40-50 parts of waterborne polyurethane resin, 15-23 parts of waterborne bisphenol A unsaturated polyester resin, 2-6 parts of phenolic resin, 20-30 parts of a filling reinforcing agent, 0.2-1 part of a titanate coupling agent, 1-5 parts of acetone, 2-6 parts of resorcinol, 0.5-1.2 partsof a curing agent, 1-1.4 parts of an antistatic agent, and 1-2 parts of a leveling agent. A polytetrafluoroethylene compound is prepared by the process of: stirring thiourea, microcrystalline cellulose and a sodium hydroxide solution, performing centrifugation, conducting washing to neutral, adding polytetrafluoroethylene, aluminum powder and yttrium oxide, and then carrying out mixing, ball milling and drying.