A traction drive elevator, comprising: an elevator car, a pair of guide rails, a counterweight, a traction drive motor comprising a housing, a stator, a rotor and a traction sheave; wherein the guide rails are disposed in a hoistway; both ends of the housing are symmetrically fixed to a side wall of the hoistway; the housing operates as a bearing beam; and the elevator car and the counterweight are suspended on the traction sheave of the traction drive motor via a plurality of wire ropes. Since the traction drive motor occupies no additional vertical space in the hoistway, space utilization ratio of the vertical space in the hoistway is increased, the height of the top floor is decreased, and building materials are saved.