A rubber belt retracting and deploying device for a belt conveyor includes a base, mounting frames, an upper caterpillar disk, a middle caterpillar disk and a lower caterpillar disk, wherein the lower caterpillar disk is fixedly connected between the symmetric mounting frames, and the middle caterpillar disk is movably connected between the symmetric mounting frames, and may longitudinally slide along the symmetric mounting frames, such that the lower caterpillar disk and the middle caterpillar disk form a first clamping device; the upper caterpillar disk is movably connected between the symmetric mounting frames, and may longitudinally slide along the symmetric mounting frames, such that the upper caterpillar disk and the middle caterpillar disk form a second clamping device; each of the upper caterpillar disk, the middle caterpillar disk and the lower caterpillar disk is provided with a driving part.