A front wheel folding device for a three-wheel cart including a golf bag cart, a baby cart or a goods transport cart includes: a fixed base with an upper end coupled to a cart frame and having an elastic press plate and a plurality of teeth; a moving base coupled to the fixed base by a rod and having a gear disk engaged with the teeth of the fixed base for performing a reciprocal rotating movement; and a front wheel set mounted to the moving base and having a front wheel. By pressing the press plate, the moving base is released to perform a rotating movement to drive the front wheel to be disposed at a horizontal state and folded. The aligning and folding processes can be completed all at the same time to achieve a convenient and quick operation.