A method and a device for cutting/holding the knitting yarn in a weft knitting machine in which the ends of a large number of knitting yarns can be held in a fabric knitting region or in the vicinity thereof without requiring a holding mechanism. Since a controller (10) forms a transient portion (8a) between front and rear needle beds (2), and a holding portion (8b) by a knitting needle (4) on the side of a needle bed (2) on one side using the knitting needle (4) by a knitting yarn (8) that has finished knitting of a fabric (9) and is waiting for the next use in knitting of a fabric, the knitting yarn (8) can be held even if an extra device for holding the knitting yarn (8) is not provided. Since the holding portion (8b) can be provided in the knitting region of a fabric (9) or in the vicinity thereof, traveling distance of a yarn feeding member is shortened and productivity can be enhanced. Since a cutter (11) moves along the needle bed (2) to cut the knitting yarn at the transient portion (8a), it causes no trouble in knitting of the fabric (9).