A double-pump hydraulic control loop of a key drilling action of a cutting drill rig comprises a double linkage load-sensitive variable pump set, a double oil intake linkage load-sensitive multi-way valve, a rotary motor, a propulsion motor, a drilling logic control block, a rotation guide handle, a propulsion guide handle, and a hydraulic oil tank. An oil inlet of the double linkage load-sensitive variable pump set is connected with the hydraulic oil tank. An oil outlet and a load-sensitive opening are connected with an oil inlet and a load-sensitive opening of the double oil intake linkage load-sensitive multi-way valve respectively. Each valve pressure difference compensator of the load-sensitive multi-way valve is provided with an external control opening. The external control openings are connected with the drilling logic control block. The rotation guide handle and the propulsion guide handle are connected with the drilling logic control block or a guide control opening of the load-sensitive multi-way valve. The double-pump hydraulic control loop has the advantages that power head rotation-proportion-controlled propulsion is achieved, independent load-sensitive control of rotation and propulsion is achieved, propulsion speed is increased, and the like.