The invention discloses a paper holding mechanism and a printing apparatus with the paper holding mechanism. The paper holding mechanism comprises: a paper holding rubber roll, which is arranged in a printing paper transmission channel and includes a first roller and a second roller, wherein the first roller forms a paper holding opening with an end of a lower channel plate of the printing paper transmission channel which is located above the first roller; a turnover panel, which is pivoted with the first roller and forms a transmitted connection with the first roller, wherein the turnover panel possesses a connection state of connecting the paper holding opening and an open state of opening the paper holding opening. In the invention, the turnover panel forms a bridge connecting the lower channel plate and the paper holding rubber roll on the position of the paper holding opening; no matter whether printer paper is soft or crooked, the paper can smoothly entered into the paper holding rubber roll so that the printer paper is not stuck and plugged in the paper holding opening during a paper feeding process; contradiction between a paper holding opening arrangement size and the printer paper can be solved; reliability of the paper holding mechanism and adaptability to medium can be raised.