A vehicle biaxial parallel electric drive system and a gear shifting control method thereof. The drive system comprises a drive motor I (1), a drive motor II (15), and an automated mechanical transmission. The automated mechanical transmission comprises a first-gear gear pair (3, 7), a second-gear gear pair (13, 7), a third-gear gear pair (5, 8), a fourth-gear gear pair (10, 8), an engaging sleeve I (4), an engaging sleeve II (12), a transmission input shaft I (6), a transmission input shaft II (11), and a transmission output shaft III (9). The drive system comprises drive motors and an automated mechanical transmission, is simple in structure and reasonably arranged, has high acceleration and gradeability, and implements smooth gear shifting, without any power interruption. By using the gear shifting control method, the continuity of generation of power required for driving can be ensured in a gear shifting process. In addition, kinetic energy ensured during a vehicle traveling process can be converted to electric energy during a braking process, thereby reducing the losses of electric energy, so that the battery costs are reduced and the driving range of the vehicle is improved.