The invention discloses a magnetic flux leakage testing probe component of a drill pipe and a testing method. The magnetic flux leakage testing probe component of the drill pipe comprises an annular probe plate and the probe component fixedly installed on the annular probe plate. The probe component comprises a support base, a bi-directional cylinder, a rocker and a probe. The support base is fixedly installed on the annular probe plate. The bi-directional cylinder is fixedly installed on the support base. One end of the rocker is hinged to a piston rod of the bi-directional cylinder, and theother end is provided with a probe installing hole. One side, adjacent to the bi-directional cylinder, of the rocker is hinged with the support base. A radial spherical plain bearing is fixedly installed in the probe installing hole. A fastening screw passes through the radial spherical plain bearing and is in the screwed-connection with the probe. The testing method is completed on the basis of the magnetic flux leakage testing probe component of the drill pipe. The magnetic flux leakage testing probe component of the drill pipe is capable of realizing the follow-up of the probe and the dillpipe in the testing process, improving the fitness of the drill pipe and the probe, and improving the accuracy of a testing result. In addition, the abrasion of the probe is uniform, and the service life is effectively prolonged.