The integrity of oil well cement sheaths is closely related to the long-term production safety of oil and gas wells. The primary material used to form a cement sheath is brittle. In order to reduce the brittleness of oil well cement and improve its flexibility and resistance to stress damage, nano-silica was used to modify polymer elastic particles, and their properties were analyzed. The influence of the modified polymer particles on the properties of oil well cement-based composite materials was studied, and the microstructure of the polymer particle cement sample was analyzed. The results showed that nano-silica effectively encapsulates polymer particles, improves their hydrophilicity, and achieves a maximum temperature resistance of 415 °C. The effect of the modified polymer particles on the compressive strength of cement sample is reduced. Polymer particles with different dosages can effectively reduce the elastic modulus of cement paste, improve the deformation and elasticity of cement paste, and enhance the toughness of cement paste. Microstructural analysis showed that the polymer particles are embedded in the hydration products, which is the main reason for the improvement in the elasticity of cement paste. At the same time, polymer particle cement slurry can ensure the integrity of the cement sample after it is impacted, which helps to improve the ability of oil well cement-based composite materials to resist stress damage underground.