A water pumping and electricity generating double-purpose turbine pump with a novel structure comprises a pump body, a pump shaft and an electricity generator, wherein the pump body comprises a turbine cavity and a pump cavity, the pump shaft is divided into a first sectional shaft and a second sectional shaft, and the electricity generator is connected to the upper end of the pump shaft; two impellers which are arranged in the same direction are arranged on the first sectional shaft, a first water inlet is formed in the upper end of the pump body, and a first water outlet is formed in the pump body in a position corresponding to the second impeller; a rotating wheel is arranged on the second sectional shaft, and a second water inlet and a second water outlet are formed in the pump body; and guide vanes are arranged on the pump body and fixedly arranged on a water guide base through bolts and nuts. When water needs to be pumped, water can be lifted by a river or tide pump station to irrigate farmland. When the farmland does not need water in a slack season, the electricity generator can be connected and is directly driven by water energy to generate electricity. The direction of an opening between the guide vanes can be changed through the matching of the regulating bolts and the nuts, and the speed of water flowing into the turbine cavity is further regulated. Therefore, the whole turbine pump has the advantages of high efficiency, convenience in operation and wide range of application.