The present invention discloses an energy-saving alternating current contactor controlling current multiplexing. The energy-saving alternating current contactor includes a regular alternating current contactor consisting of a movable contact, a normally closed contact, a normally open contact, a movable iron core, a static iron core, a reset spring, an excitation coil, and a normally open auxiliary contact, and an electronic unit. The energy-saving alternating current contactor is characterized in that the electronic unit consists of a control circuit and an execution circuit, the control circuit is a four-port network, the four ports are a port 2, a port 3, a port N and a public port E, the execution circuit 102 is a six-port network, and the six ports are a port 1, a port 4, a port AC1, a port DC1, a port DC2, and a public port E.