The invention provides a shearing machine and a locating device of a bearing panel of the bearing machine. The locating device comprises first fixing sleeves, second fixing sleeves and connecting pieces, wherein the first fixing sleeves are used for being fixed onto the side faces of a shearing machine body and provided with horizontally formed first holes; the second fixing sleeves are used for being fixed onto the side faces of the bearing panel of the shearing machine and provided with horizontally formed second holes, and the axes of the first holes and the second holes are coaxial; the connecting pieces are in a rod shape, one end of each connecting piece is fixed into the corresponding first hole, and the other end of each connecting piece is fixed into the corresponding second hole. By means of the shearing machine and the locating device of the bearing panel of the bearing machine, the bearing panel can be effectively located, and the phenomenon that fastening bolts of the bearing panel are frequently cut off due to the fact that the fastening bolts bear shear force is prevented, accordingly, the shearing machine and the locating device of the bearing panel of the bearing machine can not only greatly reduce the maintenance frequency of the bearing panel of the shearing machine but also improve the shearing quality of the end portion of steel.