The invention discloses a dehumidifying device of a heat pump. The dehumidifying device comprises a refrigerating cycle, a dehumidifying module and a circulating air module. The refrigerating cycle comprises a first condenser, an evaporator, an expansion valve and a compressor; the dehumidifying module comprises a heat regenerator, air is fed into the heat regenerator from a hot side, a hot-side air outlet of the heat regenerator is connected with a cold-side inlet of the heat regenerator by a pipeline via the evaporator, and a cold-side outlet of the heat regenerator is connected with an air outlet pipeline; the circulating air module comprises a circulating fan, and the circulating fan is mounted beside the first condenser. The dehumidifying device has the advantages that the dehumidifying performance can be improved, the air volume of the condenser can be increased, the condensation pressures can be reduced, a comprehensive dehumidifying performance ratio of the dehumidifying heat pump can be increased by 20% at least, the operating expense can be greatly saved, the using temperature range of identical refrigerants in drying procedures can be expanded, the unit mounting expense can be reduced, and mounting spaces can be saved.