A bearing generating electricity using a thermoelectric effect. The bearing comprises a first member and a second member that are in an annular shape, and the first member and the second member are rotatable relative to each other about an axis of the bearing, wherein the bearing further comprises a thermoelectric member (2) made of a thermoelectric material and a heat dissipating member (3) made of a thermally conductive material; the thermoelectric member (2) is mounted to an axial end surface of the first member, and the heat dissipating member (3) is mounted to a side of the thermoelectric member (2) far away from the first member; and the thermoelectric member (2) absorbs heat from the first member to generate current during rotation of the first member relative to the second member. A power generating device comprising the described thermoelectric member (2) and the heat dissipating member (3) absorbs heat generated by a bearing body (1) so as to generate electricity during the operation of the bearing, thereby reducing the temperature of the bearing body while generating electricity.