A cylindrical Ni—Zn battery includes a battery shell, an electrode assembly and a liquid electrolyte which are sealed within the shell. The electrode assembly, whose upper part is connected to a cap, includes a nickel cathode, zinc anode, and a composite membrane. The nickel cathode and zinc anode have an edge portion which are externally exposed and bent inwardly to form the anode and cathode conductive end respectively, and edges of the composite membranes are sealed together, so that the electrodes are contained in the membranes. The battery is characterized by the simple in structure, convenient installation, low cost, safety, characteristics of long-term storage, effectively preventing the growth of dendrite, long life, strong capability to resist shake, and good performance of large current discharging.