A rotary paper money conveying device applied to a note in and out port (1) of an automatic teller machine. The rotary paper money conveying device comprises: a paper money clamping mechanism (10), used for clamping and conveying paper money (200) from the note in and out port (1) to a paper money transportation channel entrance inside the automatic teller machine; a transmission mechanism, comprising a drive motor (30), a belt (32) and a pair of belt pulleys (31, 33), wherein the belt (32) is fixed to the paper money clamping mechanism (10) through a shaft and a bearing and used for conveying the paper money clamping mechanism (10) to the paper money transportation channel entrance from the note in and out port (1); a first rotary driving mechanism, comprising a first rotary motor (20) and a first transmission gear (22) and used for driving the paper money clamping mechanism (10) to rotate by a first angle at the note in and out port (1); a second rotary driving mechanism, comprising a second rotary motor (40) and a second transmission gear (42) and used for driving the paper money clamping mechanism (10) to rotate by a second angle at the paper money transportation channel entrance; and a central control mechanism.