The invention discloses a paper collecting device of a printing machine. The paper collecting device comprises a machine frame, a base, supporting beams, first sliding rails, positioning plates, connecting rods, a supporting plate, second sliding rails, a driving motor, driving wheels, a transmission belt, a handle, a transmission shaft, a lifting wheel, a lifting chain, an air pump, a valve, an air pipe, high-pressure air nozzles, compression roller shafts, compression rollers, third sliding rails, compression roller arms, sliding blocks, retainer rings, protrusions, notches and balls. The paper collecting device has the advantages of being reasonable and simple in structure and convenient to use; the surface temperature of the paper can be effectively reduced when the paper subjected to printing is collected, and therefore a paper tape subjected to printing drying can be rapidly cooled, the side of the paper is prevented from curling, later-stage cutting is facilitated, and the quality of the product is guaranteed; meanwhile, the length of the compression rollers can be adjusted according to actual processing conditions to meet the paper width requirements, and therefore the phenomenon that the paper is deviated in the conveying process due to the fact that the compression rollers are too long is avoided, the normal production line production is achieved, the production efficiency is improved, and the use is flexible and convenient.