Al2O3-SiC-C castables with pelletized graphite addition of 0, 2%, 4% or 6% (by mass, the same hereinafter) were prepared using brown fused corundum (8-5, 5-3 and 3-1 mm), dense fused corundum (≤1 and 0.045 mm) and SiC (≤1 and ≤0.064 mm) as main starting materials with mass ratio of aggregate∶matrix =71∶29, 2% silicon powder and 0.4% B4C as antioxidants, and pelletized graphite as carbon source. Effect of pelletized graphite addition on physical properties, oxidation resistance, slag resistance and thermal shock resistance of Al2O3-SiC-C castables was researched. The results show that: with the increase of pelletized graphite addition, the required water amount of castables increases, the bulk density and strength reduce; with 4% pelletized graphite, the castable performs the best oxidation resistance; the increase of graphite is beneficial to the improvement of slag penetration resistance and corrosion resistance; with 6% pelletized graphite, the thermal shock resistance is the best.