This paper introduces the working principle and structure characteristics of a pipe storage mechanism for drill rods and drilling tools used in deep seabed. According to the deep seabed drilling process, the automatic rod making up & breaking out and storage mechanism are designed. This kind of mechanism has 2 single-row rotary cage type pipe storage racks to store the drill pipe and drill pipe assembly respectively. Each pipe storage rack is equipped with a pair of manipulators to clamp the drill rod and drilling tools between the borehole mouth position and the outlet position of pipe storage rack for the transfer and tightening positioning. This mechanism has the advantages of high reliability, high coring rate, simple structure and convenient operation.