The invention discloses a wheel type drill bit for breaking rock by rotary cutting (a rotary cutting drill bit for short as follows), which comprises a drill bit main body, a roller cone, cutting teeth, an oil storage bag and a spray nozzle, wherein the drill bit main body comprises a roller cone shaft neck, a centralizing block, a high-pressure slurry channel and a connecting screw thread; the roller cone and the shaft neck on the main body adopt a general bearing and a sealing structure of a tricone drill bit; a plurality of circles of cutting teeth are arranged from the large end to the small end of the roller cone; an included angle beta (an included angle of a cone body for short as follows) between a roller cone shaft neck plane on the main body and an axial line of the drill bit ranges from 0 to 90 degrees (containing beta i=beta(i+1) and beta i is not equal to beta(i+1)); the offset s (containing s i=s(i+1) and s i is not equal to s(i+1)) of the shaft neck ranges from-D/2 to D/2; i (greater than or equal to 1) represents a serial number of the roller cone; the included angle of the cone body corresponding to the cone i is represented by beta i; the offset of the shaft neck corresponding to the cone is i represented by s i; and D represents the diameter of the drill bit. According to the wheel type drill bit disclosed by the invention, an inner-row large gear ring is used for cutting the center of a shaft bottom and has high rock-breaking efficiency; each circle of cutting teeth can be used for scratching and cutting the shaft wall and has favorable effects for gauge protection and side drilling; the size of the shaft neck is large; the speed ratio of the cone body is smaller than 1; and the bearing has a long service life.