The invention relates to a rotary submerging and floating type aerator which can be rotated for 360 degrees on the whole. The rotary submerging and floating type aerator comprises a gaseous ring compressor, a blower base, a stainless steel tube or a hose and a support tube, wherein the blower base is fixed between the gaseous ring compressor and the support tube. The rotary submerging and floatingtype aerator is characterized by also comprising a rotator and a driving device, wherein the rotator is arranged on a fixed base, the blower base is arranged in the middle of the rotator, and the driving device drives the rotator to rotate; the rotator comprises a rotary support, the blower base is fixed on an internal gear ring of the rotary support, an external gear ring of the rotary support is fixed on the fixed base, and the driving device is fixed on the blower base and meshed with the external gear ring at the same time. The rotator rotates to drive the blower base to rotate, thereby driving the whole machine to rotate; and the invention has the advantages that the plug-flow and the aeration can be carried out towards any directions around.