PURPOSE: To provide a bag-making/filling/packaging machine which discharges an inner roll holder and sends an outer material roll inward after a paper joining, and does not waste the let-out of a packaging paper at that time.

CONSTITUTION: A roller holder 1 is received by inner side roller 16-18, and the let-out of a packaging paper W1 is done from a material roll R1, and packaging operation is performed. When the material roll R1 approaches its end, a roll holder 2 is received by outer side rollers 12-14, and a packaging paper W2 is let out from a material roll R2 and is set to a paper joining device 60, and a paper joining is performed while the packaging operation is stopped. A second movable member 19 shakes, and the roll holder 1 drops on a discharge guide 20, and is discharged to the lower rear side of the packaging machine. A paper let-out roll 30 is reversed, and the packaging paper between the paper let-out roll 30 and a former is sagged. A first movable member 15 shakes, and the roll holder 2 is transferred on a guide rail 11 and rolls, and the material roll R2 winds up the sag of the packaging paper, and the packaging operation is resumed.