We study the integrability of the conformal geodesic flow (also known as the conformal circle flow) on the $SO(3)$--invariant gravitational instantons. On a hyper--Kahler four--manifold the conformal geodesic equations reduce to geodesic equations of a charged particle moving in a constant self--dual magnetic field. In the case of the anti--self--dual Taub NUT instanton we integrate these equations completely by separating the Hamilton--Jacobi equations, and finding a commuting set of first integrals. This gives the first example of an integrable conformal geodesic flow on a four--manifold which is not a symmetric space. In the case of the Eguchi--Hanson we find all conformal geodesics which lie on the three--dimensional orbits of the isometry group. In the non--hyper--Kahler case of the Fubini--Study metric on $CP^2$ we use the first integrals arising from the conformal Killing--Yano tensors to recover the known complete integrability of conformal geodesics.
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