The aim of this study was to explore the role of environmental conditions to insect wax during its storage and application, and determine the types and compositions of the oxidatives. Oxidation of insect wax with UV-light or heating catalyzing were simulated in this paper, and physicochemical parameters, thermogravimetric (TG), infrared spectrum (IR), gas chromatography-mass spectrometry(GC-MS) of the oxidatives were analyzed, respectively. To some extent, it was revealed that UV-light and heating may accelerate the oxidation. The characteristics and the types of the oxidatives were analyzed and summarized. The results showed that the effect of irradiation of 300nm UV-light was approximately equal to that of 50℃ thermal catalysis. The wax was oxidized more severe at 100℃. Its acid value reached to 69.62mg KOH/g and saponification value reached to 208.36 mg KOH/g. The whole process contained two stages, including degradation and oxidation. The long carbon chains of senior alkyl acid and policosanol shortened during the degradation process, manifested as lower melting peak, increasing of the low-melting point components, altiudinal succession of carbon number of senior alkyl acid and balanced distribution of relative content. During the oxidative degradation, free alkane, policosanol, senior alkyl acid continued to oxidize, characterized by the increase of acid value and saponification value, meanwhile the enhancement and split of characteristic absorption peak of carbonyl in IR spectrum of oxidation products.