Provided are a smart power tool and a control method thereof. The smart power tool includes: an output shaft (101), an electric motor (201), a housing (102), and an adjustment assembly (103); where the adjustment assembly is used for adjusting a working mode and outputting a mode signal, where the working mode includes a drill gear mode and a wood screw mode; in the drill gear mode, a detection unit (202) is used for detecting a current value; and a controller (203) is used for receiving the mode signal and determining a set of current variables according to the working mode and the detected current value; determining, according to the set of current variables, whether startup ends; determining a set of feature quantities according to the set of current variables after the startup ends; determining a type of a drill bit according to the set of feature quantities; and determining a working state of the smart power tool according to the set of current variables and/or the set of feature quantities and the type of the drill bit and when the smart power tool is in a drill-through state, controlling the electric motor to stop rotating; in the wood screw mode, the detection unit is used for detecting a bus current value; and the controller is used for determining a first detection value according to the detected bus current value; determining, according to the first detection value, whether startup ends; identifying a slip condition of the smart power tool according to the first detection value after the startup ends, and filtering a variation of the first detection value under the slip condition; determining a second detection value according to a first detection value after filtering; and if the first detection value after filtering and the second detection value satisfy a preset condition, triggering the smart power tool to shut down.