The invention discloses a combined screw-down balancing device provided with a guide wheel and a hook, which pertains to the rolling machinery field. The device comprises a screw-down hydraulic cylinder, a balancing hydraulic cylinder, a hook and an I-shaped block of a roller sliding carriage; the balancing hydraulic cylinder is sheathed at the thin segment of a piston rod of the screw-down cylinder; a sealing ring is arranged on the outer surface of the thick segment of the piston rod of the screw-down cylinder so as to separate the screw-down hydraulic cylinder from the balancing hydraulic cylinder; the hook is arranged on the connection sheath at the lower part of a balancing piston rod and used for being connected with the I-shaped block of the roller sliding bottom; the guide wheel isarranged at the upper segment of the hook and can move in the L-shaped guide channel of a hook support so as to control the opening and closure of the hook. The device of the invention has compact structure and convenient maintenance, reduces the cost, guarantees that no interval is formed between the I-shaped block of the roller sliding bottom and the spherical pad in normal production course, regulates the roll gap conveniently and meets the requirements of replacing the rolls of rolling mill rapidly. The invention also discloses a method for controlling the combined screw-down balancing device provided with a guide wheel and a hook.