The utility model discloses a floating buffering nipple which comprises an upper joint, wherein the upper end of the upper joint is connected with a top drive/power faucet spindle through a screw thread, and the excircle lower end of the upper joint is fixedly connected with the upper end of a jacket through an upper bolt; the lower end of the jacket is connected with a lower cover through a lower bolt; a support sleeve is fixedly mounted on the lower cover through a spigot; a floating nipple is arranged between the outer circumference of a wash pipe and the inner circumference of the jacket, and floating springs are arranged between the floating joint and the lower cover; and the floating joint is in sleeve joint with an inner surface of the jacket through a spline pair and connected with a protecting nipple of a top drive through a screw thread in the lower end. The floating buffering nipple is located between the top drive/power faucet spindle and the protecting nipple and can bear axial load, drilling torque and drilling mud pressure, the jump function is realized when a drill rod is screwed on and screwed off, meanwhile, the axial impulse load borne by a bearing can be effectively reduced during drilling operation, and the floating buffering nipple has a buffering effect.