A magnetic latching relay includes a casing containing a coil assembly, an electrically conductive plate and a static plate. A reed assembly is installed on surfaces opposite to the electrically conductive plate and the static plate and includes a reed, a pull-to-disconnect plate installed onto the reed, and a contact formed on the pull-to-disconnect plate. The casing includes a pushing latch latched to the coil assembly. If the relay is connected, the contacts of the reed assemblies of the electrically conductive plate and the static plate will touch each other, or else the pushing latch will be moved axially along the static plate and inserted between the pull-to-disconnect plates of the reed assemblies of the electrically conductive plate and the static plate to separate the contacts, so as to monitor the connected/disconnected status of the relay. An external display device is provided for displaying the connected/disconnected status.