The invention discloses a belt storage type crawler travelling conveyor and a travelling method thereof, and belongs to the field of belt conveyors. The conveyor comprises a machine head station, a transition section, a middle section, a belt storage section and a machine tail station, wherein the belt storage section comprises an automatic takeup device, bearing roller sets, belt storage sectionracks and a bend pulley; the automatic takeup device comprises a steel wire rope, takeup pulleys, takeup trolleys, a second rail, a takeup oil cylinder and a takeup winch; the takeup oil cylinder is fixedly connected with the takeup winch and the takeup trolleys through the steel wire rope; and a conveying belt sequentially passes through the machine head station, the transition section, the middle section, the bearing roller sets, the machine tail station, the bend pulley and the takeup rollers, and is connected with a conveying belt of the machine head station in an end-to-end mode. According to the belt storage type crawler travelling conveyor and the travelling method thereof, after the automatic takeup device is additionally arranged, only the takeup winch needs to be started and therequired conveying belt amount needs to be increased or reduced for extension or shortening of each time, so that the whole conveyor can extend or retract, and meanwhile, due to the adoption of a crawler chassis, the working efficiency of travelling of the conveyor is improved.