The invention provides a wagon 120-valve protection hood rivet disassembling device. The rivet disassembling device is composed of a riveting device, a splitter and a hand-operated hydraulic pump. The splitter comprises a splitter oil cylinder assembly, a splitter piston, a cutter head assembly, a positioning sleeve, a splitter connection jacket, a C-shaped clamp, a spring, an oil pipe and a quick-change connector. The riveting device comprises a riveting device oil cylinder assembly, a riveting device piston, an inner sleeve, an outer sleeve, a riveting device connection jacket, a clamping section, an upper limiting sleeve, a lower limiting sleeve, a buffering front sleeve, a buffering rear sleeve, a spring, an oil pipe and a quick-change connector. The hand-operated hydraulic pump is provided with a pump body, a reversing valve, the oil pipe and the quick-change connector. The reversing valve is used in a hand-operated mode. The technical scheme is used for riveting and splitting of pultrusion rivets with the diameter being 12 on the wagon 120-valve protection hood portion, the riveting forming is good, splitting is smooth, and the disassembling device is convenient to carry and operate and capable of quickly riveting or splitting rivet lantern rings under the conduction that no electricity, gas and other power sources exist and achieving disassembly of a 120-valve protection hood.