The invention discloses a gas suspension cooling type contact wheel device of an abrasive belt grinding head. A contact wheel is arranged between two suspension arms at the lower end of a contact rod. The contact wheel is installed on a contact wheel shaft in a sleeving mode, and the contact wheel and the contact wheel shaft are in small clearance fit. A first airflow channel is formed in the contact wheel shaft along the axis of the contact wheel shaft. Gas exhaust holes are distributed in the portion, located in the contact wheel, of a shaft body of the contact wheel shaft. The first airflow channel communicates with a third airflow channel in a supporting rod through a second airflow channel in the contact rod. The supporting rod is provided with a gas inlet for allowing gas to enter the third airflow channel. By the adoption of the gas suspension structure capable of achieving non-mechanical contact between the shaft and a shaft sleeve, the gravity of the contact wheel, the grinding pressure, the abrasive belt tension and the like can be resisted, the effect that an effective gap exists between the contact wheel shaft and the shaft sleeve is ensured, the gas suspension effect is achieved, and accordingly abrasion is reduced; and low-temperature gas takes away grinding heat on the contact wheel through heat exchange, and the service life of the contact wheel is effectively prolonged.