区别是：
its是所有格，意思是它的 ，是一个单词。
it's是两个单词，it is的缩写，意思是它是。
例句辨析：
its
1、The dog lifted its head, listening.
那条狗抬起头，竖耳倾听。
2、I met one woman whose tiny baby had just died and whose other child was fighting for its life.
我遇到了一个女人，她那一点点大的小宝宝刚刚死去，另一个孩子也在死亡线上挣扎。
3、Each side set forth its position on this question.
各方阐述了自己对这一问题的立场。
it's
1、It's the best news I've heard in a long time.
这是我很久以来听到的最好消息。
2、It's been such a long time since I played.
自我上次演出以来已有很长时间了。
3、I think it's my round.
我想这轮该我请了。
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