The invention discloses a switching device used for a downhole tool and allowed to be withdrawn and locked. According to the switching device, two shoulder faces are arranged on the inner wall of an outer shell, a limit sleeve is arranged on the upper shoulder face in a seating mode, and a lower ball seat sliding sleeve is arranged on the lower shoulder face. The inner wall of the outer shell is sleeved with an upper inner sleeve, and the inner wall of the upper inner sleeve is sleeved with an upper ball seat sliding sleeve. A lower inner sleeve is arranged between the lower end of the upper inner sleeve and the upper ball seat sliding sleeve. A stepped face is arranged on the outer surface of the middle of the lower inner sleeve, faces downwards and is correspondingly matched with the upper end of the limit sleeve. A shoulder face is machined on the surface of the inner wall of the lower inner sleeve and matched with the lower end face of the upper ball seat sliding sleeve. A blind hole is formed in the radial direction of the outer wall of the upper inner sleeve, and a locking mechanism is arranged in the blind hole. A locking groove is formed in the inner wall of the outer shell and matched with the locking mechanism. The switching device used for the downhole tool and allowed to be withdrawn and locked not only is suitable for a well-repairing cutting device and a well completing tool, but also is suitable for a drilling tool and any tool which is correlated with the drilling tool and needs to be opened, locked and closed.