In accordance with an embodiment, a magnetic ink reading device comprises a conveyance mechanism configured to convey a sheet-like medium printed by using magnetic ink along a conveyance path; a magnetizing mechanism configured to magnetize the magnetic ink on the medium along the conveyance path; a magnetic detection head, arranged in the vicinity of the magnetizing mechanism along the conveyance path, configured to read magnetism of the magnetized magnetic ink; a cylindrical roller member, arranged to face the magnetic detection head across the conveyance path, configured to press the medium conveyed along the conveyance path against the magnetic detection head to be capable of rotating along the surface of the medium; and a rotating shaft configured to rotatably support the roller member and contact an inner wall of the roller member at the axial center of the roller member.