A permanent magnet drive on-load tap-changing switch comprising a changing switch circuit. The changing switch circuit comprises an odd-numbered tap-changing circuit and an even-numbered tap-changing circuit that are structurally identical. The tap-changing circuits comprise working contactors (K1/K2) and dual-contact synchronous transition contactors consisting of primary contactors (k1/k2) and secondary contactors (k1'/k2'). The working contactors and the dual-contact synchronous transition contactors each face directly a moving contactor (1). The moving contactors are connected in parallel to each other. A permanent magnet (2) is fixed on each moving contactor. The permanent magnets face directly on the other extremity thereof a moving contactor driving mechanism. The moving contactor driving mechanism changes a force applied to the permanent magnets and thereby allowing the moving contactors to come into contact with or be separated from the working contactors and the transition contactors, thus implementing changeover from one tap to another tap. The permanent magnet drive on-load tap-changing switch is structurally simple and convenient to use, obviates the need for a high-speed mechanism, implements changing by means of direct actions of the contactors, operates at high speed and reliably, and has a low failure rate and an extended service life.