An extensible-rotating-handle portable bike comprises an extensible rotating handle, a front fork rod, a front frame, a middle frame, a rear frame, a seat, a front wheel, a rear wheel and a driving mechanism. The extensible rotating handle is composed of a left handlebar, a right handlebar, an upper lock member, a lower lock member and a pull handle, the front frame is formed by connecting a rotating member with a front beam, the middle frame is formed by connecting a double-beam pipe, a first double-pipe sleeve, a rear pipe sleeve, a five-way pipe, a folding piece, a first lock hook member and two shockproof polyurethane blocks, and the rear frame is composed of a left rear fork pipe, a right rear fork pipe, a second double-pipe sleeve and foot supports; the saddle is formed by connecting a seat pipe, a saddle folding member, a second lock hook member, a seat rod, a saddle and a folding positioning clamp, the front wheel is mounted to a front axle, the rear wheel is mounted to the rear frame, and the driving mechanism comprises a middle axle, two cranks, a chain wheel, two pedals, a front-stage small chain wheel, a rear-stage chain wheel, a flywheel, a front-stage chain and a rear-stage chain.