Drilling tool

The utility model discloses a drilling tool. The drilling tool comprises a spline outer barrel, a spline mandrel, an anti-falling barrel and a pulse generator and a drill bit. A bypass hole channel penetrating through the barrel wall of the spline outer barrel is formed in the spline outer barrel. The lower portion of the spline mandrel is connected with the pulse generator. The lower end of the pulse generator is connected with the drill bit. The spline mandrel is in spline connection with the spline outer barrel, and torque transfer and vertical sliding can be achieved. The spline mandrel drives a bypass seal to vertically move on the spline outer barrel and accordingly controls opening and closing of a bypass opening. The drilling tool is simple in structure, can achieve communication and isolation of an inner annulus and an outer annulus of a drill column and can achieve small-displacement drilling and large-displacement well flushing. Pulse cavitation jet flow impact force can be fully utilized, a hydraulic pressurizing function is utilized to improve drilling pressure, and accordingly the mechanical well drill speed is improved.