The invention relates to a vehicle wheel retracting device, in particular to a hydraulic spring foldable retracting device for amphibious vehicle wheels. The device is a double-wishbone independent suspension, and comprises a wheel assembly (1), a pin shaft I (2), a wheel connection arm (3), a pin shaft II (4), an upper cross arm (5), a shock absorber (6), a pull rod assembly (7), a pin shaft III (8), a frame (9), a pin shaft IV (10), a pin shaft V (11), a hydraulic oil cylinder (12), a crank (13), a pin shaft VI (14), a pin shaft VII (15), a pin shaft VIII (16), a differential assembly (17), an internal universal transmission assembly (18), a drive shaft (19), a lower cross arm (20), a pin shaft IX (21) and an external universal transmission assembly (22). Compared with the prior art, the device has the advantages of large vehicle bottom clearance from the ground, simple structure, sensitive reaction and no influence on the vehicle bottom casing streamline, and is suitable for wheels of water and land amphibious vehicles.