The invention discloses a coiled tubing logging instrument with a circulating channel. The coiled tubing logging instrument with the circulating channel comprises an upper connecting joint, a middle outer barrel, a connecting outer barrel, an external cable, an internal cable, a shell, a cable rotary seal connecting mechanism, an anti-backflow mechanism, a mechanical ball injecting release mechanism, a measuring mechanism, an electric release mechanism, a connecting head and a lower connecting joint, and the upper connecting joint, the middle outer barrel, the connecting outer barrel, the anti-backflow mechanism, the mechanical ball injecting release mechanism, the measuring mechanism, the electric release mechanism, the connecting head and the lower connecting joint are fixedly connectedin sequence; the shell is separately matched with the measuring mechanism, the electric release mechanism and the connecting head to form an annular flow channel; and the internal cable is connected with the cable rotary seal connecting mechanism fixed into the connecting outer barrel, and two ends of the external cables are separately connected with the cable rotary seal connecting mechanism andthe measuring mechanism. According to the coiled tubing logging instrument with the circulating channel, an internal cable can be prevented from being tied a knot or being twisted off, meanwhile, multiple logging data can be collected simultaneously and passes back in real time, and a coiled tubing can be separated from a ground control instrument.