The present invention provides a power generation device for exercise equipment including a fixing seat, a swinging seat and a power generating component. The joint and positioning end of the swinging seat has a hinge connection part to be connected with the fixing seat, and the power generating component is configured on a preset position on the swinging seat. A magnetic lifting component is configured to cause magnetic repelling between the swinging end of the swinging seat and the fixing seat, so that the swinging end of the swinging seat can be elastically lifted. The driven part of the power generating component will constantly maintain tight contact with the flywheel of exercise equipment. The magnetic lifting component can exert a magnetic repulsing function without elastic fatigue and solid abrasion.