The invention discloses a novel warning lamp. The novel warning lamp comprises a light guiding cover made of a light guiding material; a light emitting diode is installed under the light guiding cover, and light emitted by the light emitting diode is upwards guided by the light guiding cover; an inner hole formed in the center of the light guiding cover is provided with an inner thread; a spherical reflecting cover is installed at the upper end of the light guiding cover; and the whole light guiding cover can present the color of light emitted by the light emitting diode in a manner that the light is subjected to light guiding of the light guiding cover and light reflecting of the inner threaded surface of the light guiding cover and the spherical reflecting cover arranged at the upper end of the light guiding cover. A connection cover is fixedly connected with the lower end of the light guiding cover, a light emitting diode circuit board and a constant current source circuit board which are electrically connected with each other are fixedly installed in the connection cover, the light emitting diode is electrically connected to the light emitting diode circuit board, and a cable is electrically connected to the constant current source circuit board. A supporting ring is fixedly connected in the connection cover, the light emitting diode circuit board is fixedly connected to the supporting ring, and the constant current source circuit board is inlaid in a circuit board slot located in the inner side of the supporting ring. A base is hinged to the lower end of the connection cover, and a screw cap is in threaded connection with the outside of the base.