The invention discloses two-color tube processing equipment which comprises an inner pipeline extruding machine. An outer pipeline extruding machine is arranged on one side of the inner pipeline extruding machine; the machine head end of the outer pipeline extruder is connected with the machine head of the inner pipeline extruding machine; the machine head comprises a first machine head part and a second machine head part connected to the first machine head part; the other end of the second machine head part is provided with a mounting base; a clamping ring sleeves the mounting base; the clamping ring is connected with the second machine head part; an outer mold core and a distributor are arranged inside a machine head body; the distributor is connected with an inner mold core placed inside the outer mold core; an inner pipeline cavity is arranged between the outer mold core and the distributor body as well as the inner mold core; an outer pipeline cavity is arranged between the outer mold core and the machine head body; the head end of the outer pipeline cavity is communicated with an outer glue filling channel on the first machine head part; a pipeline molding cavity is arranged between the mounting base and the inner mold core; the inner pipeline cavity and the outer pipeline cavity are of an annular structure; the head ends of the two cavities are intersected at the head end of the pipeline molding cavity; a heating coil is arranged outside the machine head body.