In this paper, finite-time stabilization of switched linear systems with saturating actuators is discussed by virtue of time domain approach. State feedback controllers are designed to make the closed-loop systems finite-time stable. If the state is unavailable, observer-controller compensators are used. The results not only give sufficient conditions for finite-time stabilization of switched linear systems with saturating actuator, but also show the effect of the switching signals on finite-time stabilization of the system. Moreover, based on average dwell-time technique, we present the average dwell-time of switching signals to guarantee finite-time stability of the closed loop system. An example is employed to verify the efficiency of the proposed method.