The invention discloses a wear resistant and fatigue resistant surfacing welding electrode which has an H08Mn or H08MnA welding wire as a welding core and is characterized by the components of the electrode coating of the electrode by weight percent: 10 to 20 percent of marble, 5 to 10 percent of fluorite, 2 to 4 percent of quartz, 5 to 10 percent of titanium ore, 2 to 4 percent of chalkstone, 10 to 25 percent of nitrided ferrochromium, 20 to 30 percent of metal manganese, 10 to 20 percent of nitrided ferromanganese, 5 to 10 percent of ferrotungsten and 1 to 3 percent of rare earth ferromagnesian alloy; and also is characterized by using sodium silicate as a binder. The chemical components of the melting cladding layer material of the surfacing welding comprise 15 to 17 wt percent of Mn, 4 to 6 wt percent of Cr, 2 to 4 wt percent of W, 0.08 to 0.20 wt percent of N, 0.2 to 0.4 percent of C, small amount of Re, less than 0.1 wt percent of impurities and the rest is iron. When using the electrode for the surfacing welding, a DC welding machine is adopted and the electrode is used as a cathode. The obtained cladding layer of the surfacing welding is a single-phase austenite structure with the rigidity of 220 to 260HB and has excellent capability of processing rigidification and excellent performances of rolling contact fatigue resistance and wear resistance, and can obviously lengthen the service life of wearing and fatigue parts after repairing.