The invention provides a folding mechanism and a folding roller skating trolley. The folding mechanism comprises a steering wheel, a trolley front fork, a trolley body plate, a rotating mechanism, a connecting cross beam and a pedal plate, wherein the rotating mechanism is connected onto the trolley body plate; one end of the connecting cross beam is connected with the rotating mechanism, and the other end of the connecting cross beam is connected with the trolley front fork; the pedal plate controls the rotating mechanism to rotate, so that the trolley body plate is horizontally unfolded or vertically folded; the pedal plate is connected with a clamping screw bolt; a first clamp groove and a second clamp groove are formed in the outer edge of the rotating mechanism; the first clamp groove is matched with the clamping screw bolt so that the trolley body plate is unfolded in the horizontal direction to be fixed; the second clamp groove is matched with the clamping screw bolt so that the trolley body plate is folded in the vertical direction to be fixed. The invention also provides the folding roller skating trolley comprising the folding mechanism. The folding mechanism has the advantages that the clamping and the release of the screw bolt are controlled through pedaling the pedal plate by foot; the stooping is basically not needed in the whole folding and unfolding process; meanwhile, after the folding, the trolley can be pushed through a small wheel; the physical power is greatly saved; the simplicity and the convenience of operation are improved.