The composition, structure and properties of No.52 F-T wax and four kinds of No.52 petroleum wax were investigated by the use of Gas Chromatography (GC), X-ray diffraction (XRD), Differential Scanning Calorimetry (DSC)and other characterization methods. The results show that the five waxes are mainly composed of long-chain alkanes, and in compared with petroleum waxes, the F-T wax has narrow carbon number distribution, highn-alkane component content,high saybolt color value,low iso-alkane component content ,low needle penetrationvalue, and low oil content. At room temperature, both F-T and the petroleumwaxeshave the orthorhombic crystal structure. F-T wax has similar DSC as petroleum wax with respect to a weak solid-solid phase transition peak and a strong solid-liquid phase transition peak. According to the results of the polarized microscope, the oblique square sheet-shaped crystals are arranged closely. In the process of cooling, the radial size of the sheet wax crystal gradually increases, and the wax crystal will continue to form a large solid crystal group, thus forming a three-dimensional spatial network structure. It indicates the high content of n-alkanes in the wax of No.52, which is consistent with the GC results.The No.52 F-T wax is better than petroleum wax in terms of physical pr- operties and chemical composition, and is similar to petroleum wax with respect to crystal structure and thermal properties.The No.52 F-T wax can be used as petroleum wax. The low-toxicity special extraction agent developed by NICE can realize the production of No.48-54 fully refined paraffin wax in the aromatics-free system, which is expected to replace the traditional solvent.