The fracture of composite coal-rock under load is the process of energy conversion. As the dissipative energy composition, there is a correlation between the infrared radiation energy and the coal-rock states. Based on theories of theoretical mechanics, modern quantum mechanics, thermodynamics, and other disciplines, first, this paper explained the causes of infrared radiation energy in the process of coal-rock fracture by using the microanalysis method. After that, the mathematical model of dissipation energy−infrared radiation energy coupling was deduced and established, and the experimental analysis was carried out under different loading conditions. The analysis shows that the conversion of mechanical energy and internal energy in the process of loading caused constant collisions between molecules in coal-rock, which led to a temperature rise. After entering the excited state, molecules have to transition to a lower energy level, which generates infrared radiation. The experimental results show that there was a strong correlation between energy characteristic parameters, which is consistent with the established relationship. In addition, the energy conversion and dissipated energy changes in the loading process had stages. Before the elastic−plastic stage, the dissipated energy obtained by coal-rock energy conversion was less, but it increased rapidly in the later stage, which eventually led to the fracture of coal-rock. In the early elastic−plastic period, infrared radiation energy was the main component of the dissipated energy and its variation trend was consistent with the dissipated energy. After that, the infrared radiation energy remained stable, but the dissipation energy still increased. At this time, infrared radiant energy was no longer the main component of dissipated energy. And the infrared radiation energy dropped rapidly before coal-rock fracture, which had certain precursory characteristics. The coupling mechanism of dissipated energy−infrared radiation energy can be used to explain the failure reason of composite coal-rock under different loading conditions from the perspective of energy, which will provide a new idea for assisting the prediction of coal-rock dynamic disasters.