An outer circle rolling tool comprises a fixation mechanism, an adjustment mechanism, a guide plate, supporting rods, a first pin roller, a second pin roller and a third pin roller. The fixation mechanism is equipped with a first bearing and a second bearing, the adjustment mechanism is equipped with a third bearing, and the first pin roller and the second pin roller are installed on the fixation mechanism. The first pin roller is tangent to the first bearing, the second pin roller is tangent to the second bearing, and the third pin roller is installed on the adjustment mechanism and is tangent to the third bearing. One end of each supporting rod is installed on the guide plate and can be moved on the guide plate, and the other end of each supporting rod is fixedly connected with the fixation mechanism. The guide plate is fixed to a machining lathe, and the adjustment mechanism is installed on the fixation mechanism and can be moved on the fixation mechanism. The outer circle rolling tool is simple and compact in structure, convenient to install and disassemble, reliable in performance, economical, environment-friendly, high in efficiency and good in security and has low requirements for an operator.