The invention discloses a double-color injection molding machine with rotating shaft and rotary disc functions. The double-color injection molding machine is mainly characterized in that a body is provided with a rotary shaft and a rotating shaft, wherein a slotted hole is formed in the rotary disc; the body is provided with a shaft hole for correspondingly assembling a rotating shaft bushing; the rotating shaft bushing is correspondingly arranged in the slotted hole of the rotary disc in a penetrating manner; a first bearing is arranged in the slotted hole and corresponds to the rotating shaft bushing, and then the rotating shaft is correspondingly driven to rotate by a servo motor; thus, by using the design that the rotating shaft bushing sleeved on the rotating shaft corresponds to the first bearing in the rotary disc, the rotating shaft does not rotate when the rotary disc is driven to rotate by the power; when the rotating shaft is correspondingly driven to rotate by the servo motor, the rotary disc does not rotate; the double-color injection molding machine meanwhile has a quick and accurate positioning effect.