A permanent magnet drive on-load tap-changing switch including a changing switch circuit and a high-speed mechanism. The circuit includes structurally identical odd and even-numbered tap-changing switch circuits. The mechanism includes a traveling mechanism used for bearing a moving contactor, a moving magnet group connected with the traveling mechanism, and a fixed magnet group producing an attracting/repelling force with respect to the moving magnet group. The moving magnet group includes a first and second permanent magnet connected at homonymic magnetic poles. An exposed homonymic magnetic pole of the first and the second permanent magnet face directly the fixed magnet group. The fixed magnet group includes a rotating permanent magnet that rotates to change a force applied to the moving magnet group, allowing the moving contactors to either come into contact with or be separated from working contactors and dual-contact synchronous transition contactors.