To provide a cutting device for a used ink ribbon, which can cut the ink ribbon without using special edged tools and is advantageous in reducing running costs, and to provide a cutting method.

The used ink ribbon 2 drawn out of a take-up reel 8 using a drawing mechanism 14 is formed into a plurality of strip-shaped ink ribbons 2A by a cut forming mechanism 16, and is turned into one string-shaped ink ribbon 2B by an ink ribbon deforming part 18. The string-shaped ink ribbon 2B held between a rotary plate 24 and adjacent two holding plates 26 of the drawing mechanism 14 is cut by a cutting blade 46.