The utility model discloses a faucet lift-pull type switching mechanism which comprises a water channel body and a switching device. An inflow water channel and two independent water dividing channels are arranged in the water channel body, and a valve chamber is formed between the inflow water channel and the two water dividing channels and is provided with a water inlet communicated with the inflow water channel and holes correspondingly communicated with the two water dividing channels. The switching device is composed of a valve body, a lift-pull rod and a spring. The valve body is fixedly installed in the valve chamber and is provided with a water inflow hole which corresponds to and is communicated with the valve chamber water inlet of the water channel body, two water dividing openings communicated with the water inflow hole are formed on the valve body and are respectively communicated with the two water dividing channels of the water channel body, and the lift-pull rod and the spring are combined to be movably arranged in the valve body. The lift-pull rod is provided with a water stopping plug and drives the water stopping plug to move up and down between the two water dividing openings of the valve body in a longitudinal direction so as to selectively seal or open two water dividing opening switching water channels.