A liquid distributing valve includes a housing, an oil supply passage, an oil storage valve and a two-position three-way valve. The oil storage valve is separated into an oil storage chamber and an oil pressing chamber by a piston, and the oil storage chamber is in communication with an oil discharge port and has a spring pressing against the piston. The two-position three-way valve includes a valve body cavity having an oil inlet in communication with the oil supply passage, a valve core and a valve seat having a core hole in communication with the oil storage chamber via a bypass oil passage. When the valve core is at one position, the oil inlet is blocked off, and the oil pressing chamber is in communication with the oil storage chamber. When the valve core is at another position, the core hole is blocked off, lubricant enters the oil inlet.