The invention discloses an automatic wire feeding device with a fault self-diagnostic function and a diagnostic method. The automatic wire feeding device with the fault self-diagnostic function comprises an automatic wire feeding device, an alarm device and a control unit; the automatic wire feeding device comprises a base, a wire feeding guide pipe, a spring, a spring fixing cavity, a gear, a wire feeding stepping motor, a driven wheel, a movable bottom plate, a cross beam, a long bolt and a wire winding wheel; the wire feeding guide pipe is relatively fixed to the spring, and the spring fixing cavity is fixed at the bottom of the base; the gear is located at the output shaft of the stepping motor, the driven wheel and the cross beam are located on the movable bottom plate, and the gear is matched with the driven wheel to clamp wire-shaped materials; the long bolt abuts against the cross beam, and the long bolt is rotated to enable the bottom plate to slide left and right; the windingwheel is fixed at the top end of the base through a support; the alarm device comprises two micro-switches and two acousto-optic alarms, the micro-switches detect the wire shortage and the wire blockage respectively, and the alarms are used for giving out alarms of corresponding faults; and the control unit is used for circularly detecting the states of the two micro-switches in real time, and the corresponding alarms are started when faults occur.