The invention provides a two-way slip recoverable hydraulic packer. The packer comprises a middle mandrel, a first shearing fixing piece, a second shearing fixing piece, a third shearing fixing piece,a hydraulic cylinder outer cylinder, a locking mandrel, a limiting assembly, an annular piston, a locking ring assembly, a rubber cylinder, a cone and a slip, wherein the hydraulic cylinder outer cylinder, the locking mandrel and the limiting assembly are sequentially arranged on the outer wall of the middle mandrel in a sleeving mode from top to bottom; and the annular piston, the locking ring assembly, the rubber cylinder, the cone and the slip are sequentially arranged on the outer wall of the locking mandrel in a sleeving mode from top to bottom; a first cavity is formed between the hydraulic cylinder outer cylinder and the locking mandrel; a closed second cavity is defined by the locking mandrel and the middle mandrel; the locking mandrel and the middle mandrel are connected throughthe first shearing fixing piece; the cone is connected with the locking mandrel through the third shearing fixing piece; the slip is arranged on the conical surface of the cone in a sleeving mode andcan move upwards relative to the cone and be in an unfolded state; and the lower end face of the slip makes contact with the upper end face of the limiting outer cylinder. The packer can bear pressureand tension in two directions, the setting procedure is simple, and the packer can be unsealed and recovered.