The present disclosure discloses a low LOI tellurium-lithium-silicon-zirconium frit system and a conductive paste and application thereof, and belongs to the field of conductive paste. In the low LOI tellurium-lithium-silicon-zirconium frit system, components of the frit are 24%-40% TeO2, 18%-24% Li2O, 4%-13% SiO2, 0-2% ZrO2, and a balance MOx, and M is one or a mixture of Na, K, Mg, Ca, Sr, Ti, V, Cr, Mo, W, Mn, Cu, Ag, Zn, Cd, B, Al, Ga, Tl, Ge, Pb, P, and Bi. There is no need to add additional surfactants, a viscosity change of the conductive paste prepared after standing for 30 days is less than 20%, the conductive paste has good stability, the water related weight loss of inorganic oxide of the conductive paste is less than 1.6%, and the application performance of the conductive paste is not affected after standing for 30 days.