An electric toy gun with a plurality of firing modes includes a trigger, a power break holder, a power contact holder, a block member slidably coupled to the power break holder and having a first tooth and a second tooth at one lateral side thereof, a swing bar having an actuation portion and a push block connected to the actuation portion. A control mechanism enables the push block of the swing bar to be shifted to the rear side of the first tooth, the rear or front side of the second tooth. Lowering of the power break holder with the block member drives the push block to move the first or second tooth forward and then to push the first tooth forward. The block member is displaced relative to the stop portion of the link which moves the power break holder.