To provide an on-load tap changer which can be made compact in size by increasing cooling efficiency for a current limiting resistance, can have a stable changing speed independently of a temperature in a use environment, and can determine an abnormality with high accuracy and excellent reliability.

A vane wheel 5 is directly coupled to a drive shaft 1 for transmitting a driving force from a motor operating mechanism. The vane wheel 5 is arranged to forcibly blow against a current limiting resistance 4 when a spring device 2 converts the rotary energy of the drive shaft 1 to spring energy and stores the spring energy.