The invention discloses a ribbon knitting machine. The ribbon knitting machine comprises a machine frame, a braid conveying mechanism, a material taking mechanism and a material storage mechanism, thebraid conveying mechanism, the material taking mechanism and the material storage mechanism are fixedly arranged on the machine frame, the material taking mechanism is arranged at one end of the braid conveying mechanism, the material storage mechanism is arranged at the other end of the braid conveying mechanism, the material taking mechanism comprises a material taking and installing plate, a material taking driving mechanism, a material taking track plate and a material taking device, the material taking track plate is fixedly arranged on the material taking and installing plate, the material taking device is movably installed on the material taking track plate, and the material taking driving mechanism is connected with the material taking device; a belt pressing mechanism is fixedlyinstalled on the material storage mechanism, the belt pressing mechanism is connected with the braid conveying mechanism. According to the ribbon knitting machine, the mechanical structure is simple,the production cost is reduced, the control method is simple, the phenomenon that too much alarm occurs in the practical process is avoided, the production efficiency is improved, the belt pressing device is arranged, so that the braiding belt is prevented from being broken in the material storage process, and the production efficiency is influenced.