There is provided a method of winding up a transfer film and a device for performing transfer printing on printed sheets of paper, capable of eliminating the need to frequently replace the transfer film, thereby allowing the transfer film to be used over a prolonged time. According to the method of winding up a transfer film, the transfer film fed from a feed roll through a feed path is pressed onto a fed printed sheet to transfer patterns of the transfer film, and then the transfer film is wound up onto a windup roll through a windup path. During the rewind of the transfer film from the windup roll to the feed roll, a lateral position of the transfer film running along the feed path is detected, and the feed roll is moved in its axial direction to follow a lateral positional change of the transfer film.