The invention relates to a method for improving corrosion resistance and wear resistance of the surface of a high-nitrogen steel petroleum drill collar, and belongs to surface engineering technologies in the special field. A special surface deforming method is used, deforming scale is controlled, and then a surface deformed structure and original austenite grains are refined through hot working. The method has the advantages that corrosion resistance of the surface of an existing non-magnetic drill collar for petroleum exploitation is remarkably improved, and the service life of a drilling tool is prolonged. In addition, the used method is high in maneuverability, production cost is low, and the cost-performance ratio of the non-magnetic drill collar is improved.