The invention provides a hydraulic wheel retracting device for an amphibious vehicle. The hydraulic wheel retracting device comprises a frame, a steering section mounted in the middle of a wheel, and a driving oil cylinder. A piston rod of the driving oil cylinder is connected with the lower part of the steering section through a lower spherical hinge; the top of the front end of the cylinder body of the driving oil cylinder is fixedly connected with the middle part of a supporting rod; the front end and the back end of the supporting rod are respectively fixedly connected with the outer end of a pull rod; two pull rods are arranged on left and right sides; the inner ends of the two pull rods are respectively mounted on the frame by using rotary pin shafts; the two rotary pin shafts and a rotating shaft are concentrically arranged; the upper part of the steering section is connected with the outer end of a wheel supporting frame through an upper spherical hinge; the inner end of the wheel supporting frame is connected with a tension transmission casing pipe in clearance fit; and the tension transmission casing pipe is connected with the frame by more than one bearing base. The hydraulic wheel retracting device for the amphibious vehicle, provided by the invention, has the advantages of simple and compact structure, good buffering and damping effects, safe and reliable properties, low fault rate, low manufacturing price and capability of greatly improving the height of the wheel.