A novel energy-saving load-shedding oil well pump comprises an outer barrel, and a pump sleeve, a liquid discharge mechanism and a liquid inlet mechanism are arranged in the outer barrel. A piston rod is inserted in the pump sleeve, the liquid discharge mechanism is connected with the liquid inlet mechanism, the upper portion of the liquid discharge mechanism is provided with an inner hole, and the pump sleeve is inserted into the inner hole. A first inner ball seat cavity is arranged in the liquid discharge mechanism, a second inner ball seat cavity is arranged in the liquid inlet mechanism, the inner hole is connected with the second inner ball seat cavity through a liquid inlet flow channel, a first annular gap is arranged between the pump sleeve and the outer barrel, the first inner ball seat cavity is communicated with the first annular gap through a liquid discharge flow channel, and the lower portion of a connecting connector is connected with the piston rod. The novel energy-saving load-shedding oil well pump has the advantages that under the premise of meeting a basic function that the oil well pump pumps raw oil out of a shaft bottom, the mode that a common oil well pump pumps out raw oil during up-stroke is changed into the mode that the raw oil is pumped out during down-stroke. Therefore, during up-stroke, a sucker rod only bears self-weight and upstream frictional resistance, and accordingly suspension point load is reduced. During down-stroke, the raw oil is pumped to the ground by utilizing self-weight of the sucker rod, thereby lowering load of a whole oil pumping system, saving electric energy and achieving the aim of deep pumping.