The utility model provides an impact type circulating valve. The impact type circulating valve comprises a barrel body and a sliding sleeve arranged in the barrel body. The two ends of the barrel body are connected with an upper connector and a lower connector respectively, the barrel body is provided with circulating holes, and a blocking disk is arranged at the upper end of the sliding sleeve. The sliding sleeve is provided with a radial pressure transmitting hole, the radial pressure transmitting hole is connected with an impact pin, and an axial blind hole is formed in the root portion of the impact pin. The upper end of the sliding sleeve is located below the circulating holes, and liquid flows out from the circulating holes to circulate. After the blocking disk is crushed and the impact pin is broken, the high-pressure liquid flows into the gap between the sliding sleeve and the barrel body from the radial pressure transmitting hole and applies axial compressive force to the sliding sleeve, the sliding sleeve is made to ascend to close the circulating holes, hence, the problems that an instrument cannot enter smoothly due to blocking of a tubular column, the tubular column needs to be screwed off repeatedly, rework is caused, and the cost is increased in the prior art are effectively solved, and it is guaranteed that the tubular column is unblocked and subsequent perforation related work can be conducted.