A magnetic balance structure includes a counter weight, a positioning element, a first positioning magnet, a shell and a shaft. The positioning element is set on the counter weight or the shell and the positioning element is set with the first positioning magnet face-to-face. The shaft is set on the shell. The interaction of the positioning element with the first positioning magnet causes the counter weight to do reciprocating motion along the shaft. Furthermore, A magnetic balance linear vibration motor includes a shell internally provided with a stator, a rotor and a shaft. The stator includes a drive coil driving the rotor cutting its magnetic lines of force, generate driving force, and driving the rotor to do reciprocating linear motion along the shaft. The positioning element and the first positioning magnet are respectively set on the rotor or the shell.