The utility model discloses a wire reeling or releasing vehicle which belongs to the technical field of electric-power work construction tools. The wire reeling or releasing vehicle includes a vehicle frame, an auxiliary frame, a front wheel and rear wheels. The auxiliary frame is arranged on the vehicle frame. The front wheel is located at the front part of the vehicle frame. The rear wheels are located at the middle parts of the two sides of the vehicle frame. The front part of the vehicle frame is provided with a diesel engine and a hydraulic oil tank. The front part of the auxiliary frame is provided with a portal frame. The top part of the portal frame is provided with a winching column. The upper and lower sides of the portal frame are provided with rotating shafts. Guide chains are arranged on the rotating shafts. The rear parts of the two sides of the auxiliary frame are provided with hydraulic lifters which are connected with the hydraulic oil tank. The top parts of the hydraulic lifters are provided with wire reeling spools which are connected with the hydraulic lifters through wire reeling shafts. Each wire reeling spool includes an internal spool and an external spool and a plurality of wire reeling rolls are evenly distributed on the internal spool in the axial direction. The wire reeling or releasing vehicle is simple to install and operate, rapid and practical, low in cost, wide in applicable scope, capable of improving work efficiency, powerful in backup function and capable of isolating a fault timely, saving material maintenance fund and significantly reducing the workload of personnel.