A device for feeding and retrieving a steel wire rope comprises a mandrel and a retrieving neck connected with the bottom of the mandrel through threads. The device is characterized in that a first reducing step is arranged at the top end of the outer wall of the mandrel, a second reducing step is further arranged at the upper end of the outer wall of the mandrel, and a series of keys are distributed along the upper end of the outer wall of the mandrel. One end of each key is in contact with the first reducing step and is positioned by the first reducing step and the other end of each key is matched with a traction body arranged on the outer wall of the mandrel in a sleeved mode. A supporting sleeve is further arranged between the inner wall of the traction body and the outer wall of the mandrel. One end of the supporting sleeve is in contact with the second reducing step of the mandrel and the other end of the supporting sleeve is in contact with an upper connector arranged on the mandrel in a sleeved mode. A shear pin penetrates through the upper connector and the mandrel. An elastic part is arranged between the lower end of the traction body and the lower edge of the supporting sleeve. A reducing section is arranged on the inner wall of the upper connector. The elastic part is placed in the reducing section. The device has the advantages of being suitable for fishing and well feeding operation of an oil and gas field and an ocean oil and gas field within a certain range. The device is convenient to operate, good in effect and simple in structure.