Disclosed is an oscillating power tool comprising: a housing; a motor; a drive shaft; an output shaft driven by the drive shaft to oscillate around its own axis at a certain angle of oscillation; an eccentric transmission mechanism converting the rotational movement of the drive shaft to the oscillation of the output shaft, wherein the eccentric transmission mechanism comprises an eccentric apparatus mounted on the drive shaft and a shift fork assembly respectively connected to the eccentric apparatus and the output shaft; and the eccentric apparatus comprises at least two drive members, the shift fork assembly comprises a first shift fork member and a second shift fork member, the first shift fork member has a first cooperating part cooperating with the drive member and a second cooperating part cooperating with the second shift fork member, and the second shift fork member is connected to the output shaft. The oscillating power tool further comprises an adjusting mechanism placed on the housing, wherein the adjusting mechanism operably adjusts the movement of the first shift fork member, such that the first cooperating part abuts a different drive member, the second cooperating part abuts a different position of the second shift fork member, and the output shaft has a different angle of oscillation.