The invention provides an evaporator and condenser interchangeable loop heat pipe which comprises at least three heat exchange components, namely a first heat exchange component, a second heat exchange component and a third heat exchange component, the first heat exchange component is arranged on a first heat exchange component pipeline, the second heat exchange component is arranged on a second heat exchange component pipeline, and the third heat exchange component is arranged on a third heat exchange component pipeline. The first heat exchange component is arranged on a first heat exchange component pipeline, the second heat exchange component is arranged on a second heat exchange component pipeline, the third heat exchange component is arranged on a third heat exchange component pipeline, and a first valve, a second valve and a third valve are arranged on the first heat exchange component pipeline, the second heat exchange component pipeline and the third heat exchange component pipeline respectively and are arranged in parallel. The first heat exchange component, the second heat exchange component and the third heat exchange component can serve as evaporators or condensers, at least one of the first heat exchange component, the second heat exchange component and the third heat exchange component is an evaporator, and at least one of the first heat exchange component, the second heat exchange component and the third heat exchange component is a condenser. According to the novel loop heat pipe with the evaporator and the condenser interchangeable, the technical problem that the evaporation end and the condensation end of a loop heat pipe are fixed, and mutual conversion heat dissipation cannot be achieved is solved.