The invention relates to a two-position three-way rotating disc type reversing valve, and belongs to the field of hydraulic transmission. A main structure comprises an upper valve body, a valve disc and a lower valve body, wherein the upper valve body and the lower valve body are connected into a whole by bolts and nuts and are fixed to a base; the valve disc is installed in a cavity formed by the upper valve body and the lower valve body, and a driving shaft of the valve disc extends from the upper valve body so as to drive the valve disc to rotate by virtue of external power; an oil port B and an oil port C are formed in the upper valve body, and an oil port A is formed in the lower valve body; when the valve disc rotates, the oil port A communicates with the oil port B in the first half cycle, and the oil port A communicates with the oil port C in the second half cycle; and the valve disc continuously rotates, so that a two-position three-way operating mode of the reversing valve is realized. According to the two-position three-way rotating disc type reversing valve, the operating mode of a traditional two-position three-way electromagnetic directional valve which is reversed by reciprocating movement of a valve core is broken, the two-position three-way rotating disc type reversing valve has the characteristics of compact structure, easiness in processing, stability in operation, low noise and the like, and application requirements and industrial prospects are wide.