The utility model relates to a cooling device for planetary pipe rolling machine, which comprises a rolling-head cooling device and a pipe material cooling device that are separately arranged respectively, wherein the rolling-head cooling device comprises a rolling-head coolant sprinkling device and a rolling-head coolant feeding and circulation treatment device; the pipe material cooling device comprises a sealing cooling water jacket that pipe material is movably perforated through, a plurality of pipe material cooling water sprinkling devices arranged in the inner cavity of the sealing cooling water jacket and a pipe material cooling water feeding and circulation treatment device, the rolling head coolant sprinkling device is arranged at front part of the sealing cooling water jacket. The coolant and the cooling water separately perform circulation cooling of roller and rolling pipe blank, pipe material is cooled by circulation water without additive, the roller is cooled by cooling water with a certain concentration of emulsified liquid, switch can be made between coolants with different concentrations, the rolling-head cooling water and the pipe material cooling water are supplied and collected separately to perform circulation cooling, so as to facilitate to control and select the concentration of the rolling-head coolant, save the using amount of the emulsified liquid, lower the cost and reduce sewage flow rate.