The invention provides a non-rising spindle gate valve, comprising a body (2), a bonnet (3) connected to the body (2), a stem (4), a wedge (5) and a shear device (6), an upper end of said stem (4) being connected to the shear device (6) and a lower end thereof being connected to the wedge (5), wherein said stem (4) is relatively rotatably supported in said bonnet (3) by rolling bearings. The gate valve uses a shear device (6) to protect inner components of the valve from excessive operation torque. Guides are used to position the wedge in a process of rubber coating so as to ensure uniform thickness of coating. The gate valve has a small operation torque, is sealed reliably, has a long service life, and is easy to assemble.