A multi-port valve includes a valve housing and a valve core. The valve housing comprises a cylindrical main body defining an inner cavity to rotatably accommodate the valve core and a plurality of ports in fluid communication with the inner cavity. The valve core defines a plurality of flow channels, each extending through a sidewall of the valve core to form two opposite open ends. The valve housing is provided with a guider passage, and the plurality of flow channels include a first flow channel, a second flow channel and a third flow channel. The multi-port valve is operable to be switched between a plurality of work modes in response to the valve core rotating to different positions relative to the valve housing. The first flow channel is connected in series with the second flow channel via the guide passage in response to a first work mode of the plurality of work modes. The first flow channel is connected in series with the third flow channel via the guide passage in response to a second work mode of the plurality of work modes.