The invention discloses coal core extracting equipment with a low-temperature gas medium cooling drill bit and a method. The core extracting equipment comprises a low-temperature medium storage tank,a low-temperature gas buffer tank, an air compression system, a drilling machine, a drill stem and a drill bit. The core technical point of the method is that a low-temperature medium (liquid nitrogenor liquid-state carbon dioxide) in the low-temperature medium storage tank enters the low-temperature gas buffer tank and utilizes pressure generated by liquid-state medium low-temperature phase change, so that low-temperature gas enters a low-temperature gas pipeline and a gas outlet pipeline from the low-temperature gas buffer tank to cool the drill bit, and therefore, the purpose of extractingthe coal core at the low temperature is achieved, the problems that coal sample gas desorption is too quick and seepage loss is great as the drill bit and a coal layer rubs to generate heat in a coalcore extracting process are solved, and accuracy of a coal-bed gas content measured value is favorably improved.