A trolley-like folding bicycle that mainly includes a bicycle frame, a folding device, a transmission gear, a draw bar, and a draw wheel set is disclosed. With the operation of the folding device, the present invention has a usage state and a folded state. When the present invention is in the folded state, the user can draw the trolley-like folding bicycle by simply turning the folded bicycle body upright such that the draw wheel set contacts the ground and then pulling the draw bar. At this stage, an axis formed with the draw bar is substantially perpendicular to a draw rotation axis formed with small wheels of the draw wheel set. The user can move the trolley-like folding bicycle by simply pulling the draw bar, as easily as drawing a luggage case.