This paper is reported for the stability of ZnO-$Pr_{6}O_{11}-CoO-Er_{2}O_{3}$ based ceramic varistors with $Er_{2}O_{3}$ added in the addition range 0.0 to 2.0 mol%. The varistors sintered at $130^{\circ}C$ exhibited abrupt positive current creep phenomena, which accompany thermal run away within short times, even under weak d.c. stress. As a result, these varistors were completely degraded. On the contrary, the stability of varistors sintered at $1350^{\circ}C$ was far better than that of $1300^{\circ}C$. In particular, the varistor containing 0.5 mol% $Er_{2}O_{3}$ showed a excellent stability, which the variation rate of the varistor voltage, the nonlinear coefficient, and leakage current is below 1%, 2%, and 3.5%, respectively, even under more severe d.c. stress, such as ($0.8V_{1mA}/90^{\circ}C/12h$) + ($0.85V_{1mA}/115^{\circ}C/12h$) + ($0.9V_{1mA}/120^{\circ}C/12h$) + ($0.9V_{1mA}/150^{\circ}C/12h$). Consequently, it is estimated that the basic composition of ZnO-$Pr_{6}O_{11}-CoO-Er_{2}O_{3}$ based varistor contain 0.5 mol% $Er_{2}O_{3}$ will be used to the fabrication of the varistors for high performance and stability in a forthcoming.