Abstract: A fluid releasing and sound generating toy includes a toy body, a container, an electric valve, a tube, a sound generating unit, a receiving circuit and a controller unit. The toy body has a chamber formed therein and includes a fluid discharge hole formed in the outer surface of the toy body. The container contains compressed fluid therein and is disposed removably in the chamber of the toy body. The electric valve is connected operatively to the container and is activated to release the compressed fluid from the container. The tube is connected detachably to the electric valve at one end thereof and is communicated with the fluid discharge hole of the toy body so as to allow the compressed fluid to flow out of the toy body from the fluid discharge hole. The sound generating unit is disposed securely in the toy body so as to be activated to generate sound. The receiving circuit is positioned in the toy body and is connected electrically to the electric valve and the sound generating unit.