In this paper, we present an transmission-type polarization conversion metamaterial(PCM) whose functions can be dynamically switched among the linear-to-circular(LTC) and linear-to-linear(LTL) polarization conversions. The proposed PCM consists of a grating, a polarization conversion surface and a reconfigurable polarization selective surface incorporated with PIN diodes. By changing the states of diodes, the PCM can achieve the reconfigurable manipulations for incident waves. The Fabry-perot (F-P) resonances excited by the PCM contribute to the polarization conversions, which are illustrated in this paper. Moreover, through establishing the F-P-like cavity model and analyzing the electric field components of the transmitted waves, the conditions for realizing LTC polarization conversion are revealed, which can guide the construction of PCM. The prototype of PCM is fabricated and measured, which can respectively achieve LTC and LTL polarization conversions within 3.31-3.56 GHz and 2.76-4.24 GHz, the polarization conversion ratio of two functions are higher than 0.95. The measured results show agreement with the simulated ones.