The utility model relates to a coiled tubing contact pin type mechanical releasing tool. The device comprises an upper joint, a first female contact pin, a releasing outer cylinder, a shear pin, a first male contact pin, a contact pin protective cap, an instrument joint, a second male contact pin and a second female contact pin. the upper part of the releasing outer cylinder is connected to the upper joint through a shear pin; the lower part of the releasing outer cylinder is in threaded connection with the instrument joint; a cable channel is formed in the center of the upper joint; the female contact pin I is arranged at the upper part of the cable channel; the male pin I is arranged at the lower part of the cable channel; the first female pin is connected to the first male pin through acable core, the pin protective cap is in threaded connection with the center of the instrument connector, the second female pin is arranged on the upper portion of the pin protective cap, the secondmale pin is arranged on the lower portion of the pin protective cap, the second female pin is connected to the second male pin through a cable core, and the first male pin is correspondingly connectedwith the second female pin. By the adoption of the structural arrangement, underground circuit connection can be achieved, and meanwhile the releasing function is achieved.