An active capacitive pen is disclosed, including: a barrel; a first electrode disposed at an end of the barrel, an end of the first electrode away from the barrel serving as a tip of the active capacitive pen; a second electrode disposed on the barrel and spaced apart from the first electrode in an axial direction of the barrel; a third electrode disposed on the barrel and located between the first electrode and the second electrode in the axial direction of the barrel; a switching circuit, connected with the second electrode and the third electrode and configured to electrically connect the third electrode with the first electrode, or disconnect the third electrode from the second electrode. Also disclosed is an electronic terminal with the active capacitive pen.