A rocking inflatable figure has a hollow inflatable body, a rocking mechanism and an air pump. The inflatable body has an air inlet, a movable portion and two partition diaphragms securely mounted on an inner wall inside the movable portion. The rocking mechanism is mounted between the two partition diaphragms and has a housing and an oscillating lever pivotally mounted on the housing. An electric motor and a transmission mechanism are mounted inside the housing. When the electric motor and the transmission mechanism drive the oscillating lever to keep oscillating, the two partition diaphragms on the movable portion rock relative to each other. Accordingly, the rocking inflatable figure can exhibit a continuously rocking form to increase the viewing fun and animated effect.