Abstract: The present invention provides a cold rolling composite work roll with an outer layer having excellent high abrasion resistance and spalling resistance. The outer layer of the cold rolling composite work roll comprises; 0.9-1.5 wt % C, 0.3-1.0 wt % Si, 0.3-1.0 wt % Mn, 4.0-10.0 wt % Cr, 2.0-8.0 wt % Mo, 0.5-5.0 wt % V, and the remainder Fe and unavoidable impurities. A cold rolling composite work roll with high abrasion resistance has an outer layer with the above-mentioned composition wherein Mo is 3.0-8.0 wt %, formed by a continuous process for cladding around the perimeter of a core material made from ingot steel or forged steel. A cold rolling composite work roll with excellent spalling resistance has the above-mentioned composition wherein the surface portion of the outer layer formed by the continuous pouring process for cladding has a compression residual stress of 60 kgf/mm2 or lower and a Shore hardness of HS 90 or greater.