The easiest way to install xlwings is via pip:
pip install xlwings
Alternatively, it can be installed from source. From within the xlwings directory, execute:
python setup.py install
Note that on Mac, the dependencies are automatically being handled if xlwings is installed with pip. However, the Xcode command line tools need to be available.
On Windows, it is recommended to use one of the scientific Python distributions like Anaconda, WinPython or Canopy as they already include pywin32. Otherwise it needs to be installed from here.
xlwings runs on Python 2.6-2.7 and 3.1-3.4