The invention provides a high-altitude life saving device. The high-altitude life saving device comprises an inflating bag and a jumping-in bag, wherein the inflating bag comprises an outer layer structure and an inner layer structure; an inflating cavity filled with buoyancy air is formed between the outer layer structure and the inner layer structure; a jumping-in opening is formed in the top of the inflating bag and communicates with a guide cavity which is formed in the inner layer structure; the jumping-in bag is connected to the lower part of the guide cavity; an opening in the upper part of the jumping-in bag communicates with the guide cavity; and a pulling rope is connected between the edge of the bottom end of the jumping-in bag and the edge of the bottom end of the outer layer structure of the inflating bag. After a survivor jumps in the jumping-in bag, the pulling rope is stretched under the effect of gravity of the survivor, and downwards pulls the bottom end of the outer layer structure of the inflating bag so that a first arc-shaped surface which is umbrella-shaped is formed on the lower surface of the inflating bag part between the bottom end of the outer layer structure of the inflating bag and the bottom end of the inner layer structure; and the lower part of the jumping-in bag is connected with a buffer air bag filled with the buoyancy air.