The invention discloses a high performance channel simulator radio frequency transceiver applied to 5G communication. The transceiver comprises a transmission link and a receiving link, in the transmission link, an intermediate frequency signal is signally transmitted out via a first intermediate frequency, an upper mixing module, a first automatic gain amplification control module, a single-poledouble-throw switch and a radio frequency filtering module in sequence; in the receiving link, a radio frequency signal is finally received via a radio frequency filtering module, the single-pole double-throw switch, a low noise amplifier, a second automatic gain control amplification module, a lower mixing module, a second intermediate frequency filtering module and a third automatic gain amplification control module in sequence; in addition, the transceiver also comprises a local oscillator module for providing local oscillator signals to the upper mixing module and the lower mixing module.According to the transceiver provided by the invention, the complexity of the channel simulator can be effectively reduced, the requirement on power of the signal channel in 5G research is reduced, the power consumption is lowered, and meanwhile the transceiver has the characteristics of large processing bandwidth, small area and good performance.