The polyacrylamide weak gel is an effective system to block a high-permeability layer, realize water control, and enhance oil recovery. However, its application is limited by poor temperature resistance and high polymer dosage. In this paper, an inorganic–organic composite cross-linking agent was synthesized by using Cr(III) and phenolic resin. The composite cross-linking agent can cross-link low concentrations of polyacrylamide to obtain a high-temperature-resistant weak gel system in oilfield sewage. By adjusting the ratio of Cr(III), phenolic resin, and polyacrylamide, an optimum formula MF-7 can be obtained according to the gel strength. Results from evaluation experiments show that the strength of MF-7 can reach H grade even at polyacrylamide concentrations as low as 0.3%. The temperature resistance of the weak gel system is up to 100 °C, and no syneresis occurs after 330 h at 95 °C. Scanning electron microscopy (SEM) results show that MF-7 has a three-dimensional network structure with spherical nodes. The spherical node is composed of polyacrylamide, and its structure size is completely matched with the hydrodynamic radius of the used polyacrylamide. When combined with the network structure formed by Cr(III), the dense cross-linking network structure with nodes can greatly improve the strength and thermal stability of the gel system. The higher the molecular weight of the polyacrylamide used, the higher the strength of the gel obtained. Overall, the composite cross-linking agent can synergistically improve the mechanical properties of the gel, and this weak gel system formed by oilfield sewage is more economical and tolerant.