The invention belongs to a shield tunneling machine with ring edge cutters. The shield tunneling machine comprises a machine body, a transmission shaft, a soil discharge box, a conveyor belt, a cutterholder housing and a cutter. The multiple ring edge cutters are arranged on the side edge of a cutter disc at intervals, or the multiple ring edge cutters are arranged on the side edge of the front end of the cutter holder housing and the side edge of the cutter disc at intervals. Each ring edge cutter is in an arch shape, the outer side end of each ring edge cutter is provided with cutter teeth,and the inner side portion of each ring edge cutter is provided with bolt holes for integral fixing to the side edge of the cutter holder housing or the cutter disc at intervals. The length of the part, extending out of the outer periphery of the cutter disc, of the outer side end of each ring edge cutter is larger than the length of the part, extending out of the outer side of the cutter disc, of the cutter on the cutter disc. By means of the shield tunneling machine, the ring edge cutters are firstly used for cutting and separating surrounding stratums of a tunnel wall, the ideal tunnel wall face cutting effect can be achieved, and the advantages of being simple in structure, convenient to use, good in cutting effect, low in construction cost, energy-saving and good in use effect are achieved.