The invention discloses a punching device with a bidirectional punching function. The punching device comprises a base, a stand column fixed to the end face of the rear side of the base, and a punching mechanism arranged on the front end side of the stand column. A punching executing groove is formed in the end face of the front side of the punching mechanism, and a punching motor is fixedly arranged in the top wall in the punching executing groove. The bottom of the punching motor is cooperatively connected with an upper drill bit, and a lower drill bit is arranged at the position, corresponding to the upper drill bit, in the punching executing groove. A switching cavity is formed in the position, above the punching motor, in the punching mechanism. A first transmission cavity is formed in the position, below the upper drill bit, in the punching mechanism, and a second transmission cavity extending vertically is formed in the position, behind the punching executing groove, in the punching mechanism. A guide groove is formed in the inner wall of the front side of the switching cavity, and a switching driving threaded rod extending in the longitudinal direction is arranged in the guide groove. An inner spline shaft bush with the bottom end rotationally and cooperatively connected with the top end of the punching motor is arranged at the inner bottom of the switching cavity. The punching device is simple in structure, bidirectional punching can be achieved, the punching difficulty is lowered, the punching precision is improved, time and labor are saved, and the rejection rate is reduced.