The present invention provides a LED direct-plugging type multi-chip high power light source, comprising a heat dissipating substrate, a protective rubber ring mounted at the front side of the heat dissipating substrate, LEDs fixed on the heat dissipating substrate and in the protective rubber ring, the heat dissipating substrate being provided with two through holes penetrating its front side and rear side, in each of the two through holes separately provided with a pin connected to the LEDs, one end of the pin inserted into the through hole and the other end of the pin led out from the rear side of the heat dissipating substrate to the outside of the heat dissipating substrate, and the part of the pins inserted in the through holes being separated from the heat dissipating substrate by a insulator. The heat dissipating substrate is made of high heat conduction metal. In the present invention, the heat dissipating substrate is made of high heat conduction metal, and the heat conducting pole is abolished. Comparing with the conventional art, the present invention decreases the heat dissipating path, increases the sectional area, and eliminates the intermediate link of high thermal resistance. The present invention increases the power of a single light source, decreases the attenuation of light greatly, and increases the useful life greatly.