The invention relates to a transmission mechanism for a novel drilling machine, which has a compact structure. The transmission mechanism solves the defect in the prior art that the traditional machine tool easily causes unstable product quality through manually controlling the feeding dimension and the speed. The transmission mechanism comprises a main shaft box; and a feeding component is arranged in the main shaft box; the transmission mechanism is characterized in that a control box is fixed on the side edge of the main shaft box; a speed reducer is installed in the control box; the speedreducer is connected with a stepping motor; a gear shaft is arranged in the main shaft box; and the gear shaft is coaxially connected with the speed reducer. The control box is fixed on the side edgeof the main shaft box; a gap is formed between the control box and the main shaft box, so that the transmission mechanism is reduced in volume and has a more compact structure; and the speed reducer and the stepping motor are arranged in the control box and are directly connected with the gear shaft in the main shaft box, so that the transmission distance is shorter; and the output of the speed reducer is directly inputted to the gear shaft so as to reduce the power loss and improve the transmission efficiency.