The invention discloses a dual-heat source heat pump water heating all-in-one machine employing dual four-way valves for switching. Three technical schemes are provided. The all-in-one machine is characterized in that two four-way valves are used for a refrigerant loop according to each technical scheme; and a compressor, a hot water heat exchanger, a water source heat exchanger, a wind source heat exchanger, a throttler and the like are connected into the dual-heat source heat pump water heating all-in-one machine with a wind-source or water-source water heating sub-cycle, a dual-source water heating sub-cycle and a defrosting sub-cycle. Firstly, according to a loop with a wind-source and dual-source serial sub-cycle, first to fourth joints of a first four-way valve are connected with an outlet of the compressor, an inlet of the hot water heat exchanger, an upper opening of the wind source heat exchanger and an inlet of a gas-liquid separator respectively; an outlet of the hot water heat exchanger is connected in series with a liquid storage device and a filter, and then is connected with an inlet of the throttler; first to fourth joints of a second four-way valve are connected with an outlet of the throttler, a lower opening of the wind source heat exchanger, a lower opening of the water source heat exchanger and an upper opening of the water source heat exchanger respectively; and an outlet of the gas-liquid separator is connected with an inlet of the compressor. Secondly, a water-source and dual-source serial sub-cycle is provided. Thirdly, a wind-source and dual-source parallel sub-cycle is provided.