A Fast folding push-traveling type portable bicycle comprises a front frame, a folding component, a rear frame, a front fork, a folding handle vertical pipe, a bicycle handlebar, a bicycle seat, a front wheel, a rear wheel and a drive mechanism. The folding component is composed of a folding box, a folding front piece, a folding rear piece, a connecting rod and a lock catch. The folding box is rotatably connected with the folding front piece and the folding rear piece, the folding rear piece is connected the lock catch, the folding front piece is welded on the front frame, the folding rear piece is welded on the bicycle seat, the lock catch is connected with the folding box in a lock mode, the folding box is connected with a vertical pipe of the rear frame, the rear frame is composed of the vertical pipe, a bottom bracket pipe, a rear inclined pipe, a rear fork and a auxiliary shaft seat. The front fork is connected with a front head pipe of the front frame, the folding handle vertical pipe is connected with the front fork, the bicycle handlebar is installed on the top of the folding handle vertical pipe, the front wheel is installed on the front fork, and the rear wheel is installed on the rear fork. The drive mechanism comprises a centre shaft, an auxiliary shaft, a crank, pedals, a front chain wheel, a front small chain wheel, a fly wheel, a rear small chain wheel, a front chain and a rear chain.