A submersible reciprocating oil well pump unit, including: a control cabinet, a rotary type submersible motor, a borehole torque reversing device, a borehole reciprocating pump, a submersible cable, a first joint, a second joint, and an oil pipe. The control cabinet is disposed at wellhead and connected to the rotary type submersible motor submerged in a downhole sleeve via the submersible cable. The motor shaft is connected to one end of the screw rod of the screw pair of the borehole torque reversing device via the first joint. One end of the driving rod is connected to a push-pull rod of the borehole reciprocating pump via the second joint. The oil outlet is connected to the oil pipe. The borehole torque reversing device is adapted to drive the control cabinet to commutate automatically according to set loading values.