The invention discloses an electromagnetic wave oscillator, which includes a metal ring, a cathode and an output structure. By engraving concentric circular grooves with different radii on one ring surface of the metal ring, the cathode placed at the edge or center of the metal ring generates The electron beam on the inner or outer edge, the electron beam interacts with the concentric circular slots to generate electromagnetic waves, which are output through the output structure. Compared with the linear electron beam, the cathode emission density is lower, and the loss to the cathode is small, which can improve the cathode life and emission stability; the electron movement direction of the electron beam is consistent with or opposite to the direction of the space charge force, so no focusing is required; at the same time , the heat generated can be dissipated through the metal edge, and the heat dissipation area is large, which can dissipate heat quickly.