The invention discloses a label taking-placing mechanism and a labeling device. The label taking-placing mechanism comprises a multi-axis driving assembly, a rotating driving assembly and a label taking-placing assembly. The rotating driving assembly comprises a rotating driving unit and an overturning arm. The label taking-placing assembly comprises an air sucking piece and an air blowing piece,air sucking holes are formed in the air sucking piece, and air blowing holes are formed in the air blowing piece. The air sucking piece is connected with the free end of the overturning arm, and the air sucking piece is provided with a label taking position and a label placing position. When the air sucking piece is located at the label taking position, the air sucking holes and the air blowing holes are opposite, and when the air sucking piece is located at the label placing position, the air sucking holes stops air sucking. The label taking-placing mechanism is simple in structure and easy to maintain, and accurate and efficient automatic labeling can be achieved.