The present invention relates to a portable and compact umbrella capable of being folded compactly without exposing umbrella ribs and umbrella cloth thereby being easily carried and stored. A portable and compact umbrella according to the present invention includes an extendable umbrella stick extended and retracted to change its length, wherein the extendable umbrella stick has a sheltering means provided at one side thereof and a fixing protrusion provided at the other side thereof; and a handle member having both ends communicating with each other and a receiving space defined therein, wherein the receiving space is partitioned by a cylindrical winding unit, the winding unit has an inner space formed inside thereof so that the extendable umbrella stick is retracted and received in the inner space, and the winding unit has an outer space formed outside thereof so that the sheltering means is wound around the winding unit and received in the outer space.