The invention discloses a vibration motor with embedded balancing weights. The vibration motor comprises a motor body and an eccentric mechanism; the tail ends of motor rotating shafts at the two ends of the motor body are respectively provided with axial key slots; the eccentric mechanism is composed of disk fixed bases and the balancing weights; the middle part of each of disk fixed bases is provided with a cylindrical solid fixed body; the outer side of the cylindrical solid fixed body is an annular cavity; the balancing weights are fixed in the annular cavities of the disk fixed bases through a fastening bolt; the middle part of the cylindrical solid fixed body is provided with an axle hole; the side wall of the axle hole is provided with the axial key slots; and the disk fixed bases are fixed at the tail ends of the motor rotating shafts through a key. The vibration motor with the embedded balancing weights provided by the invention is simple in structure and convenient in installation, and the noise of the vibration motor is relatively small and the service life is longer.