Provided is a continuously variable transmission, comprising an outer shell (1), wherein a middle shell (101) is provided in the middle of the outer shell (1), two sides of the middle shell (101) are respectively provided with a first end cover (102) and a second end cover (103), a third shaft (12) is arranged in the middle of the first end cover (102) in a penetrating manner, the third shaft (12) is connected to a bucket-wheel sun gear (501), the inside of the third shaft (12) is a hollow structure, a second shaft (11) is arranged in the middle of the second end cover (103) in a penetrating manner, the second shaft (11) is connected to a second sun gear (401), the middle of a first sun gear (301) is fixedly provided with a first shaft (10), the first shaft (10) passes through the third shaft (12), the inside of which is a hollow structure, in a penetrating manner, and the radius of rotation of a bucket-wheel planetary gear (502) rotating around the bucket-wheel sun gear (501) is greater than the radius of rotation of a second planetary gear (402) rotating around the second sun gear (401) and the radius of rotation of a first planetary gear (302) rotating around the first sun gear (301). The continuously variable transmission solves the technical problems of it being difficult, when a continuously variable transmission is applied to hybrid power transmission, to achieve arrangement in the same axis and complicated hybrid power assembly structure when a first shaft is connected to an engine or an output device and a third shaft is connected to an electric motor and can be widely applied to the field of transmission.