A coaxial double-rotor variable-speed electromagnetic drive includes an external rotor, an end cover, a load shaft, a stator, and an internal rotor, the external rotor, the load shaft, the stator, and the internal rotor being coaxially arranged. The end cover includes a first end cover and a second end cover that are respectively disposed at two ends of the drive, the external rotor is slidably connected to the two end covers separately by bearings, the load shaft is slidably connected to the first end cover and the inner side of the external rotor separately by bearings, the stator is fixed on the inner side of the first end cover and disposed inside the external rotor, air gaps are kept separately between the stator and the internal rotor and between the stator and the external rotor, the internal rotor is sleeved on the load shaft and is disposed inside the stator.