Cooling device with panels for arc electric furnaces, which is used in an electric melting furnace in cooperation with the vertical sidewall placed above the lower shell (11) of the furnace, the furnace comprising in its lower part one lower shell (11) to contain a bath (12) of melting metal and an upper shell defined by a plurality of panels (16) comprising a plurality of cooling tubes (17), the lower shell (11) including at its outer part a metallic containing element (15), the inner refractory having an upper edge (19) located substantially at the level of the upper edge of the layer of slag (14) contained above the bath (12) of melting metal, each panel (16) including an outer layer (116) and at least an inner layer (22) of cooling tubes (17), the layers (116, 22) developing vertically along the vertical side wall of the furnace above the refractory edge of the lower shell (11) and being separated by an interspace (23).