The utility model discloses a protecting sleeve type pressure release perforator, which is suitable for the pressure release perforation process of oil and gas wells. The perforator comprises a pressure release gun, a protecting sleeve, a perforation gun, an inner joint and a gun connecting joint, wherein the perforation gun is provided with a plurality of perforation bullets mounted on a bullet carrier, an upper positioning disc and a lower positioning disc; a plurality of communication holes are formed on the protecting sleeve; well liquid holes are formed on the upper positioning disc; the two ends of the protecting sleeve are respectively connected with the pressure release gun and the gun connecting joint; one end of the perforation gun body is connected with the pressure release gun, and the other end of the perforation gun body is connected with the gun connecting joint through the inner joint; and the bullet carrier is mounted in the perforation gun body through the upper and the lower positioning discs. When the pressure release perforator is in use, the lower part of the pressure release perforator is connected with a perforation gun string through the gun connecting joint. During perforation, a liquid inlet hole is formed on the perforation gun body through the perforation of the perforation bullets, so that well liquid can rapidly enter the inner chamber of the perforation gun body, flow into the pressure release gun through the well liquid holes on the upper positioning disc, and generate instant negative pressure around a perforation pipe string; and a perforation channel can be cleaned through the negative pressure, so as to improve the working performance.