A protection member and conductive plate assembling structure of rail terminal includes a conductive plate having two assembling ends and a protection member connected with each assembling end. Two lateral sides of the assembling end are respectively formed with a locating section and a connected section. The protection member has an assembling passage for the assembling end to extend therein. A located section and an elastic connection section are respectively disposed on two sides of the assembling passage corresponding to the locating section and the connected section. The locating section and the located section are engaged with each other. Then the conductive plate is turned to make the connected section push and elastically deform the elastic connection section. Then the elastic connection section elastically restores to its home position to engage with the connected section, whereby the protection member and the conductive plate are securely connected.