The invention discloses a circulating nipple capable of being opened and closed repeatedly. A through hole is formed in a shell along the shaft axis, the through hole comprises a thin-hole section and a thick-hole section, a nozzle is installed on the pipe wall of the slim-hole section of the shell in the radial direction, a breathing hole is formed in the pipe wall of the thick-hole section of the shell in the radial direction, and a transposition piston is arranged in the through hole of the shell in a sleeved mode; a through axis hole is formed in the transposition piston, the lower end of the transposition piston is provided with a stepped surface, multiple convex blocks are arranged on the lower end surface of the stepped surface along the circumference, multiple J-shaped grooves are formed in the circumferential surface of the upper side of the stepped surface, and a dividing hole is formed in the upper end of the transposition piston in the radial direction; multiple guide pins and limit pins are installed on the pipe wall of the shell along the circumference in the radial direction, and the inner end of each guide pin is correspondingly inserted into one J-shaped groove; a lower end cover is installed at the inner edge of a lower end opening of the pipe wall of the shell, a spring inner barrel is installed in the lower end cover in a sleeved mode, and a spring is installed on the circumference of the spring inner barrel in a sleeved mode. The circulating nipple is put into a well once and can be opened and closed repeatedly without being put out of the well.