Disclosed is a magnetic latching relay capable of accurately positioning a magnetic circuit, comprising a magnetic circuit portion and a base, the magnetic circuit portion comprising a yoke, an iron core, an armature, and a bobbin, the iron core is inserted into a through-hole of the bobbin, and the yoke comprises two yokes, and one side of each of the two yokes is connected to the iron core respectively at the both ends of the through-hole of the bobbin, and the armature is fitted between the other side of each of the two yokes, the magnetic circuit portion is mounted on the base, with the axis of the through-hole of the bobbin in a horizontal manner; in at least one of the two yokes, a positioning convex portion is further provided on the outward face of the side of the yoke, positioning grooves are formed in at least one side wall to be engaged with the positioning convex portion of the yoke, to realize the positioning of the magnetic circuit portions on the base in the horizontal direction perpendicular to the axis of the bobbin through hole.