An electronic candle includes a power source, and two circuit assemblies electrically coupled to the power source in parallel and respectively including a waveform generator, a drive circuit and a first light-emitting diode being electrically connected in series. By means of controlling the two waveform generators to respectively generate a triangle wave, square wave, T wave or sawtooth wave, synchronously or asynchronously, the electronic candle simulates the flashing candlelight of a real wax candle.