A shock absorbing shoe with a triangle shock absorbing space, the shoe having an outsole and a midsole, wherein the midsole is divided into upper and lower midsoles, a plurality of upper seating holes provided on opposite sides of the upper midsole behind an area corresponding to an arch region of a foot sole, a plurality of lower seating holes provided on opposite sides of the lower midsole. The shoe includes a shock absorbing means having a body member formed longitudinally between the upper and lower midsoles, and wing members provided on opposite sides of the body member. Each wing member includes an upper inclined portion inclined upwards to be received in the associated upper seating hole, a lower inclined portion inclined downwards to be received in the associated lower seating hole, and a connecting portion connecting the upper and lower inclined portions.