The invention relates to a deformable tool bag which comprises a handbag left rear piece, a handbag left front piece, a handbag right rear piece and a handbag right front piece. The handbag left rear piece and the handbag right rear pieceare connected and the handbag left front piece and the handbag right front piece are connected by sewing underarm connecting pieces, the handbag right rear piece and the handbag right front piece are connected through a back connecting piece, a handbag is provided with a bidirectional zipper from left upper portion to the right lower portion, a tool bag structure is formed when the bidirectional zipper is completely closed, a wearablewaistcoat structure is formed when the bottom of the bidirectional zipper is opened, a back weight-bearing ring, a chest safety belt, a waist safety belt and leg safety belts are arranged on the handbag respectively, and multiple types of tool storage bags and file bags are respectively arranged on the inner side and the outer side of the handbag. The deformable tool bag can be switched between a handbag form and a waistcoat form, the waistcoat form is suitable for aerial operation, the handbag form is suitable for carrying, product functions are diversified, and the deformable tool bag is safe, reliable and suitable for market promotion.