The invention discloses a pressing pen with a retractable pen clip. The pressing pen comprises a pen holder, wherein an installation port is formed in the pen holder; a pen refill, wherein the pen refill is provided with a pen point, and the pen refill is arranged in the pen holder; the pen clip, wherein the pen clip is provided with a connecting part, pin shafts are arranged on the two sides of the connecting part, and the connecting part is inserted into the installation port; a pressing positioning assembly, wherein the pressing positioning assembly comprises a guide part, a sliding part and a positioning part, the sliding part is arranged on the guide part in the length direction of the pen holder in a sliding mode, the positioning part is arranged between the guide part and the sliding part, the positioning part can slide relative to the guide part and can rotate relative to the sliding part, and a limiting sliding groove is further formed in the sliding part; and a spring, wherein the spring is arranged in the pen holder and is used for driving the pen refill or the sliding part to reset. The use reliability of the pressing pen with the retractable pen clip is improved, and the user experience is improved.