A resistance generating device includes a friction wheel adapted to frictionally engage a bicycle wheel of a training bicycle to be rotated therewith, a first magnetically attractive member, and a second magnetically attractive member which is rotated with the friction wheel, and which is disposed to be spaced apart from the first magnetically attractive member. The first and second magnetically attractive members are configured to be shiftable towards or away from each other in response to the higher or lower speed of the second magnetically attractive member so as to increase or decrease a magnetically induced resistance force generated therebetween to be imparted to the bicycle wheel. The actuating mechanism is disposed to effect the relative shifting movement in response to the higher speed to force the first and second magnetically attractive members towards each other, thereby increasing the resistance force.