The disclosure relates to a fire extinguishing composition containing a transition metal compound, comprising a salt of an organic acid of the fourth period elements in a subgroup and the group VIII; and using a pyrotechnic agent as a heat source and a power source, reacting through heat emitted by igniting the pyrotechnic agent to burn and outputting a fire extinguishing material. In the disclosure, a transition metal compound is selected as a primary ingredient, then an amine and/or organic amine salt is added to assist in fire extinguishing, a fire extinguishing aerosol is formed by using the fire extinguishing material generated by heating and decomposing the transition metal compound, and meanwhile the amine and/or organic amine salt is heated and decomposed to generate a great quantity of gas, thereby increasing the concentration and the air pressure strength of the fire extinguishing aerosol, improving the injection strength of the fire extinguishing material, and greatly improving the fire extinguishing performance of the fire extinguishing composition.