The invention provides an isolation grounding switch and GIS equipment using the same. The isolation grounding switch includes a shell; the shell is provided with an isolation static contact seat, a rapid grounding static contact seat, a grounding static contact seat and installation pedestals corresponding to static contact seats; and at least one of the isolation static contact seat, the rapid grounding static contact seat and the grounding static contact seat is adjustably arranged on the corresponding installation pedestal through the radial position of a position adjusting mechanism so that the axial centering of the static contact seats and corresponding moving contacts can be realized. At least one of the isolation static contact seat, the rapid grounding static contact seat and thegrounding static contact seat is adjustably connected to the installation pedestals, the central axes of the static contact seats can coincide with the central axes of the corresponding moving contacts by adjusting the positions of the static contact seats through the position adjusting mechanism during using, so that centering arrangement can be guaranteed, abrasion can be reduced when the moving contacts and the static contact seats are in mutual inserting, generated metal foreign bodies can be decreased, and the normal operation of the isolation grounding switch can be guaranteed.