A geared drilling and tapping machine comprises a machine frame, an input shaft, a driving wheel, an output shaft, a sleeve, a lifting wheel, a gear rack and a drill clamping head, wherein the input shaft slides through the machine frame, the driving wheel is in axial slide connection with the upper end of the input shaft, the output shaft slides through the sleeve, the drill clamping head is connected with the lower end of the output shaft, a gear box is arranged between the lower end of the input shaft and the upper end of the output shaft, the lower casing of the gear box is connected with the sleeve, the gear box also comprises an input terminal connected with the input shaft and two coaxial output terminals having reversed rotation directions. The utility model completes threading (drilling) and retreating operation through a connecting clip key which moves up and down with the working status of the output shaft and the automatic switch connection of two output gears having reversed rotation directions, and avoids damages of a motor and components due to frequently changing the rotation direction of the motor. In addition, a load adjusting device can change the conical surface binding force between a transmission cone and a pulley through adjusting the amount of compression of a compression spring, thereby realizing load adjustment. In case of overload, the conical surface slips to realize overload protection. The utility model has simple structure, convenient application and practicability.