The invention discloses a two-way four-quadrant frequency converter, and belongs to the technical field of low power wind power generation. The two-way four-quadrant frequency converter comprises a switching power supply, a driving protective circuit, a program upgrading interface circuit, a coder interface circuit, a DSP (digital signal processor) controller, a first drive circuit, a second drive circuit, a signal acquisition circuit, an alternating-current input reactor, a first circuit breaker, a grid-side frequency converter, a rapid overflowing fuse protector, a current foldback circuit, a motor-side frequency converter and an alternating-current output reactor. According to the invention, the two-way four-quadrant frequency converter avoids the situation that two controllers can not simultaneously achieve coordination control so as to cause direct current bus voltage fluctuation under the occasion of load power and power-supply voltage jump and the like, and the direct current bus voltage after control is more stable; and the two-way four-quadrant frequency converter solves the defects that the electricity is taken from a direct current bus, the integration level of the frequency converter is improved, the structure of the frequency converter is simplified, and the safe operation of the frequency converter is farthest ensured.