The invention provides anti-rust heat-resistant deformed steel and a processing technology thereof. The deformed steel comprises a base material, a heat-resistant layer and an anti-rust layer; the base material comprises the following chemical components in percentage by mass: 0.2 to 1 percent of carbon, 2 to 3 percent of silicon, 8.2 to 10 percent of tungsten, 2 to 6 percent of molybdenum, 20 to 45 percent of chromium, 0.1 to 0.2 percent of cobalt, 0.5 to 1 percent of manganese, 0.2 to 0.6 percent of vanadium and the balance of iron; the processing technology of the base material comprises the steps of cleaning, dephosphorization, rolling, controlled cooling and straightening; specifically, a steel billet is placed in a cleaning solution, subjected to ultrasonic cleaning and drying and then heated to 1000-1200 DEG C in a furnace, the steel billet is discharged out of the furnace, cooled and then descaled through high-pressure water of 15-25 MPa, the steel billet is sent to a two-roller reversible rolling mill to be roughly rolled, then a universal continuous rolling unit is adopted for continuous rolling, controlled cooling and straightening, and the base material is obtained; the base material is subjected to sand blasting treatment, the surface of the base material is coated with the epoxy micaceous iron oxide intermediate paint, and then the epoxy micaceous iron oxide intermediate paint is coated with the anti-rust coating to serve as an anti-rust layer; and the antirust layer is coated with a heat-resistant coating as a heat-resistant layer.