The invention discloses a cut-water external radial plunger pump of a sealing mechanism. The external radial plunger pump comprises a pump body, an annular stator, a rotor, a plunger, a roller, a return ring, a pump chamber, a rotor sleeve, a floating isolation tongue, a central flow passage, a shaft seal device, a suction and exhaust one-way valve, an adjusting screw and the like. The rotor and a distribution shaft are combined into a whole and supported on bearings at two ends; the rotor is provided with the central flow passage, the rotor sleeve is fixedly arranged on the external circle of one end of the rotor, and a radial flow passage is formed on the rotor sleeve; the sealing mechanism is externally placed in the pump chamber through the traditional radial plunger pump, the isolation tongue is floating, and the radial clearance between the junction surfaces of the floating isolation tongue and the rotor sleeve can be randomly adjusted; and the isolation tongue is wider than the radial flow passage on the rotor sleeve and is instantaneously dredged by the suction and exhaust one-way valve. The plunger pump thoroughly solves the problem of 'shaft holding', greatly enlarges the sealing area between a high pressure cavity and a low pressure cavity, and improves the sealing effect and the volume efficiency; and the service life of the pump is prolonged. The pump can convey oil, and also can convey water.