The invention discloses a railway lorry and a novel locking mechanism thereof. The novel locking mechanism comprises a plurality of pairs of lock hooks and lock rings, a pivoting shaft and cranks, wherein the lock hooks and the lock rings are adaptive and correspondingly arranged; the pivoting shaft extends in a longitudinal direction and is pivoted to a carriage of the railway lorry; the number of the cranks corresponds to that of the lock rings, and the cranks are raised to the peripheral wall of the pivoting shaft in a radial direction; the lock rings are hinged to the cranks, and the lock hooks are arranged at a loading covering cap of the railway lorry. Under a locking state, the pivoting shaft is self-locked under the action of moment of an over dead point exerted by the lock hooks through the lock rings; during unlocking, under the action of a moment in the reverse direction of the moment of the over dead point, the pivoting shaft is driven to rotate to overcome the rear over dead point of the moment of the over dead point and continues rotating until the lock rings are removed through the lock hooks. Compared with the prior art, the novel locking mechanism has the advantages that the locking process and the unlocking process can be realized only by rotating the pivoting shaft at a specific position, and the operation is simple, time-saving and labor-saving.