The invention discloses a coaxial lathe iron chip recovery device. The coaxial lathe iron chip recovery device is characterized by comprising a two-dimensional bracket and a turning tool; the two-dimensional bracket is connected with a cantilever extending to a turning part direction; the cantilever is fixed with the turning tool pointed to a turning part; the turning tool is provided with a turning edge pointed to the turning part; a conical cylinder is arranged on the inner side of the two-dimensional bracket; a large-diameter end of the conical cylinder is connected with an inner chip removing pipe downwards leaning against the inner surface of the two-dimensional bracket; a small-diameter end of the conical cylinder is towards the turning part; the turning tool is positioned in the axis position of the conical cylinder; the turning edge extends out from the small-diameter end of the conical cylinder; the upper half part of the large-diameter end of the conical cylinder extends to the outer side of the two-dimensional bracket to form a cover plate pressed on the upper surface of the two-dimensional bracket; the cover plate is provided with a wing plate connected with the two-dimensional bracket; the outer surface of the two-dimensional bracket is connected with a downward outer chip removing pipe; and the outer chip removing pipe is aligned to a lower opening of the cover plate. According to the coaxial lathe iron chip recovery device, metal chips cannot fly, and are thoroughly separated from workpieces without scraping the surfaces of the workpieces; the potential energy of the metal chips falling to the ground is reduced without causing harm; and the metal chips are easy to be collected.