A miniature toy vehicle serviceable as an eraser and a pencil sharpener is primarily composed of a chassis and a housing combined thereto. A sharpener base for being screwed with a blade is provided at an appropriate position on the chassis, while a cone hole is provided at the side of the sharpener base for receiving a pencil to be sharpened. The front end and the rear end of the chassis are provided with respective wheel axles, the two ends of which are provided with tires, while a driving device is combined to the front or rear wheel axle, for moving on a plane. The housing is made of an eraser material, the side of which has a through hole corresponding to the shape of the cone hole at the sharpener base, thereby the housing can be combined to the chassis to form a toy vehicle.