The invention discloses a drilling and punching integrated hydraulic drill bit which comprises a drill bit body. A through hole, extending axially, penetrates the whole drill bit body and comprises a nozzle hole portion in the front and a valve hole portion in the middle. The back end of the nozzle hole is designed into a conical surface, and a reversing valve is arranged in the valve hole portion and comprises a protrusion block and a spring. The protrusion block is provided with a connection hole extending axially and a side hole communicated with the connection hole, the front end of the connection hole is blind, the front end of the protrusion block is designed into a conical surface which is in fitting seal with the conical surface of the back end of the nozzle hole portion. The drill bit body is further provided with a side nozzle hole, and an inner end port of the side nozzle hole leads to a big hole of the valve hole portion while an outer end port of the side nozzle hole leads to the surface of the outer ring of the drill bit body. The drilling and punching integrated hydraulic drill bit overcomes defects of existing hydraulic punching devices. Drilling and punching integration is realized by the aid of the automatic reversing valve. Secondary breaking of big cinders is realized by the aid of secondary breaking tools arranged reasonably, so that blocking of discharging passages due to falling of the big cinders is avoided.