An oscillating rotary electric power tool, in which a spindle with a distal end tool attached thereto is projected downward from a front end portion of a housing accommodating a motor, and the housing also accommodates a coupling member rotatable integrally with an output shaft of the motor, a crankshaft fitted with the coupling member in a depression and projection fitting structure, and a link member to which the spindle is fixed and power is transmitted from the crankshaft to rotate clockwise and counterclockwise in an oscillating manner so that the link member will be driven by the motor to rotate the spindle clockwise and counterclockwise in the oscillating manner, wherein an elastic body is interposed between the coupling member and the crankshaft in the same axial direction as the output shaft.