A shock absorbing shoe with improved assembly and operational performance is provided. The shock absorbing shoe includes: an outsole; an upper sole arranged on the outsole and having a guide portion; a support unit including: a first support body connected to the outsole; and a second support body connected to the upper sole and having a guide part corresponding to the guide portion; an elastic member arranged between the first and second support bodies of the support unit; and a supporting member connected to the first and second support bodies of the support unit, the supporting member being movable upward and downward along the guide portion and the guide part of the second support body.