The invention provides a progressive underdriving five-roller straightening and withdrawal machine with a heat insulation device. The withdrawal and straightening machine comprises a pair of withdrawal rollers and a pair of straightening rollers which are arranged inside a heat insulation cover, and a lower roller. Three underdriving rollers are arranged on a withdrawal and straightening machine base with a refractory castable material and transmitted by a chain wheel and are connected with a speed reducer with a variable frequency speed-regulating motor outside a production line through a coupler and a universal-joint spindle; and two upper driven rollers are arranged on a lifting guide cover pulled by a hydraulic cylinder and provided with a refractory fiber. A cantilever vertical roller is arranged on the withdrawal and straightening machine base; the diameter of the roller can be changed along with the width of casting blank; all the rollers are communicated with water to be cooled; and a plurality of withdrawal and straightening machines are arranged on an overhead base shared by the withdrawal and straightening machines through a tapered wedge. The progressive underdriving five-roller withdrawal and straightening machine has the advantages of preventing billet steel from heat dissipation and oxidation to the greatest degree, improving operating conditions of electromechanical equipment, moving the electromechanical equipment outside the production line so as to facilitate maintenance and management, preventing air leakage on a joint surface by adopting sand seal, and effectively realizing the sealing and cooling of an axial end by adopting an air knife structure.