An oscillating shear valve of a continuous pulse generator comprises a rotator and a stator which are coaxially mounted, valve orifices are formed on the rotator and the stator, each of the valve orifices comprises a circular arc line, two straight line segments and two fillets, and is designed by establishing polar coordinate equations of the circular arc line, the straight line segments and the fillets and calculating a mud throttling area formed when the oscillating shear valve moves and determining parameters of structures of the valve orifices by a correlation coefficient index of the fluid differential pressure and a standard sinusoidal wave.