Aimed at the problems of high labor intensity and low production efficiency of hand-wrapped bead wire spool, the first bead wire spooler was designed and the key mechanism of bead wire spool packaging machine was analyzed. As the volatile corrosion inhibitor paper tended to shift during the packaging process, a correction mechanism for preventing the deviation of the packaging material was designed. The correction mechanism was analyzed from the paper clamping position and the paper feeding position, and the structural design and working parameters were determined. The test results showed that the packaging success rate of the bead wire spooler was 98.9%, the paper wrinkle rate was 0.05%, and the packaging speed was 30.4/h. Comparing the quantity and quality of machine packaging and manual packaging within the same period, the machine could replace 10 to 12 workers owing to its productivity. This packaging machine reduced the cost for the enterprise and also provided a new direction for the bead wire spool packaging.