The invention provides a controlled depth milling location method which comprises the following steps that a controlled depth area (3) is arranged on a printed circuit board (1) to be subjected to controlled depth milling; a plurality of location holes (4) are formed in the printed circuit board around the controlled depth area (3); locating pieces (5) are arranged corresponding to the location holes (4); and the printed circuit board (1) to be subjected to the controlled depth milling is fixed on an even table top of a machine table (2) of controlled depth milling equipment by the locating pieces (5). Correspondingly, the invention provides the printed circuit board with the controlled depth area being located by the location method. The controlled depth milling location method and the printed circuit board adopting the location method can solve the problem of low controlled depth milling precision due to local board warpage of the printed circuit board in the prior art, and the controlled depth milling precision of the printed circuit board is improved.