The invention discloses a multifunctional waterwheel type tube and bar molding device. The device comprises a bottom plate, wherein a lower molding die is movably connected with the center of the topof the bottom plate; an upper molding die is movably connected with the top of the lower molding die; limiting rods are fixedly connected with two sides of the top of the lower molding die; tops of the limiting rods penetrate to the top of the upper molding die. Movable devices, support blocks and rollers are arranged and matched with one another, so that the device is convenient to move; clamp slots, detachable devices, boxes, sliding chutes, expansion links, moving plates, springs, sliders, moving columns, handles and clamp blocks are arranged and matched with one another, thus, the device is convenient to dismount; illuminating devices, stand columns, connecting blocks, lamp holders and lamp bulbs are arranged and matched with one another, therefore, the illumination effect is achieved,the device is multifunctional and conveniently used by a worker, and practicability of the tube and bar molding device is improved.