The present invention discloses a flipping and transforming toy vehicle capable of gripping toys, comprising a transformable toy vehicle with elastic unfolding parts and flipping parts, a number of toys to be gripped, an elastic gripping part and a snapping assembly, the elastic gripping part, the elastic unfolding parts and the flipping part are folded and then snapped through said snapping assembly to maintain the folded state, when the toy vehicle is pushed toward a toy such that the toy touches the snapping assembly, the snap connection of the elastic gripping part, the flipping part and the elastic unfolding parts is released, the elastic gripping part is popped out to grip the toy when the snap connection is released, the flipping part turns downwardly to drive the toy vehicle to somersault when the snap connection is released, and each elastic unfolding part is unfolded when the snap connection is released, thereby transforming the toy vehicle from a vehicle form to a second form, the transforming toy vehicle has an ingenious design and a unique structure, which has various novel ways to play and leads to great fun. It effectively promotes education and communication so as to train children to adapt to today's society, and may be used on various toy vehicles of different forms, styles and functions.