The reservoir in the Central Tarim Basin is a typical high-pressure fracture-vuggy carbonate reservoir with high temperatures, which easily leads to drilling fluid losses and the high-temperature carbonate. The conventional lost circulation materials (LCMs) cannot meet the reservoir. To resolve this problem, a rigid particle with high-temperature resistance, high acid solubility, and high rigidity was developed, tested, and evaluated. According to bridge rules of 1/2–2/3 opening degree of formation fracture, the formulation experiments of GZD and other lost circulation materials were conducted and a novel composite lost circulation material (LCM) was completed. Lastly, we investigated the compatibility of LCM and mud in site though compatibility experiment, analyzed the plugging effect of the system for fracture and vuggy by laboratory static lost circulation simulation and evaluation and sand-bed plugging experiments, respectively. The results show that compared with the conventional rigid lost material, the value of high-temperature resistance is more and acid solubility is over 98%. Also, it can work well with other fiber materials (E), variable filling particles (F and G), and superfine filling particles (H) and form a novel plugging material, named MGY-I, whose temperature resistance value is more than 473.15 K, the bearing strength is over than 9 MPa, the mud filtrate invasion depth of sand bed made from coarse particles (10∼20 mesh) is only 3.0 cm within 30 minutes, and the invasion depth is less than 1 cm within 30 minutes when the sand bed is made from 80∼100 mesh. The optimal concentrations of rigid granule, lignin fiber, elastic particle, and superfine calcium carbonate are 8% (A : B : CD = 2 : 1 : 1), 0.5%, 6%, and 1%, respectively. And, the plugging function of “GZD-rigidity bridge and filling, fiber network and deformable filing” is better exerted on the formation fracture with a high loading capacity and a high-temperature resistance.