Objective To investigate the short-term efficacy of transcatheter arterial chemoembolization in treating malignant ascites caused by advanced malignant tumors. Methods Clinical data of 60 patients with malignant tumors with malignant ascites in the First People's Hospital of Nanning from January 2021 to June 2023 were retrospectively analyzed. Among them, 30 patients who received conventional chemotherapy were included in the control group. Thirty patients who received transcatheter arterial chemoembolization at the corresponding period and whose general data were comparable and balanced with those of the patients in the control group were included in the observation group. After two cycles of treatment, the treatment effect of malignant ascites, the levels of serological markers (carcinoembryonic antigen [CEA], carbonhydrate antigen [CA] 125, CA153, CA199), the quality of life, and the occurrence of adverse reactions were compared between the two groups. Results The treatment effect of malignant ascites in the observation group was significantly better than that in the control group, with statistically significant difference (P<0.05). Before treatment, there was no statistically significant difference in the serum levels of CEA, CA125, CA153, and CA199 between the two groups of patients (all P>0.05). After treatment, the serum levels of CEA, CA125, CA153, and CA199 in both groups decreased. Moreover, the levels in the observation group were lower than those in the control group, and all the differences were statistically significant (all P<0.05). Before treatment, there was no statistically significant difference in the Karnofsky Performance Status (KPS) scores between the two groups of patients (all P>0.05). After treatment, the KPS scores of patients in the observation group were significantly higher than those before treatment and also higher than those of the control group, with all differences being statistically significant (all P<0.05). There was no statistically significant difference in the KPS scores of the control group before and after treatment (P>0.05). There was no statistically significant difference in the incidence of anorexia, vomiting, diarrhea, abdominal pain, bone marrow suppression, liver and kidney function damage between the two groups (all P>0.05). Conclusion Transcatheter arterial chemoembolization has a remarkable effect in treating malignant ascites, which can effectively reduce hematological oncology indicators, improve the patients' quality of life, and does not cause obvious additional adverse reactions. Therefore, it is an effective method for treating malignant ascites.