The invention relates to a double-way extruding machine for composite material, in particular to a piece of extruding equipment for hot molding glass yarns and glass mats into continuous profile material, which comprises a traction mechanism, an intermediate support, a thermoplastic forming mold, a dip coating member, a mat feeding and yarn passing mechanism, and a yarn feeding mechanism; wherein,the traction mechanism comprises a first and a second traction mechanisms, and each traction mechanism comprises a pneumatic pressing device; the thermoplastic forming mold comprises a first and a second thermoplastic forming mold mechanisms. In the embodiment, two extruding lines share the mat feeding and yarn passing mechanism, the yarn feeding mechanism and the intermediate support, the floorarea of the equipment is effectively saved, and the production efficiency of the equipment is greatly improved; the glass yarn can be pre-pressed early from feeding yarn, thus effectively enhancing the strength of fiberglass reinforced plastics. Therefore, the double-way extruding machine for composite material has the advantages of simple structure, easy industrial reproduction, and remarkable technological contribution, thus completely accomplishing the multiple purposes of the invention.