The invention discloses an impact control hydraulic system of a wagon drill. The impact control hydraulic system comprises a hydraulic pump, a hydraulic operated directional valve, a two-way cartridgevalve and a machine head which form a loop. An oil outlet of the hydraulic pump communicates with an oil inlet of the hydraulic operated directional valve and a first oil port of the two-way cartridge valve, a second oil port of the two-way cartridge valve communicates with the machine head, and a control oil port of the two-way cartridge valve communicates with an oil outlet of the hydraulic operated directional valve. When the hydraulic operated directional valve is in a first station, the oil outlet of the hydraulic operated directional valve is connected with the oil inlet. When the hydraulic operated directional valve is in a second station, the oil outlet of the hydraulic operated directional valve is connected with an oil tank. By means of cooperated use of the hydraulic operated directional valve and the two-way cartridge valve, start-stop control over the operation state of the machine head is achieved, the impact action pressure response speed of the machine head is improved, and impact action pressure response time is shortened. The invention further discloses the wagon drill comprising the impact control hydraulic system. The wagon drill has the beneficial effects mentioned above.