A spring forming machine having tool rotation and tool retraction capabilities, that includes: a rotary beak seat mechanism and a dual-transmission core rotation separation mechanism. The rotary beak seat mechanism is installed on a transmission mechanism of an outside machine panel board through a panel board bearing. The rotary beak seat mechanism includes a rotation component, that rotates 360 degrees around a central axis of the panel board bearing. On a front end of the rotation component is disposed a slide seat component coaxially. The dual-transmission core rotation separation mechanism includes: a first substrate, in a center of a front plate surface of the first substrate is disposed the rotary beak seat mechanism, on a back plate surface of the first substrate is disposed an axle core positioning mechanism, an inner circle core rotation transmission mechanism, and an outer circle tool rotation transmission mechanism.