The invention provides a two-position four-way plug valve, which comprises a main valve and an operating device. The operating device is mounted on the main valve, a guide pin in the operating devicemoves from the top of a first vertical groove to the bottom of the same to enter one end of a transverse groove, and a plug in the main valve moves up to an upper extreme position to enable a seal slide sheet to move away from the end face of a passage; the guide pin in the operating device moves from one end of the transverse groove to the other end so as to enter the bottom of a second verticalgroove, and the plug in the main valve drives the seal slide sheet to rotate; the guide pin in the operating device moves from the bottom of the second vertical groove to the top of the same, and theplug in the main valve moves downwards to a lower extreme position to enable contact seal of the seal slide sheet and the end face of the passage. The valve is high in circulation performance and sealing reliability, wedged active sealing avoids seal ring abrasion, low operating torque is realized, the service life of the valve is greatly prolonged, and the valve can be widely applied to oil metering, oil conveying switching and the like in the industry of petrochemical engineering.