A toy gun having a laser sight includes a gun body, a laser sight and a trigger assembly. The laser sight is selectively located in a first position or a second position. The laser sight includes a light-emitting element for aiming a beam toward the front of the gun body and an activating element for controlling the ON/OFF state of the light-emitting element. The trigger assembly includes a trigger and a connecting rod driven by the trigger to bias the activating element. When the laser sight is in the first position, the trigger is pressed to drive the connecting rod to move forwards, thereby biasing the activating element to turn on the light-emitting element. When the laser sight is in the second position, the activating element is located farther away from the connecting rod and unable to be biased by the connecting rod, thereby turning off the light-emitting element.