A mining machine applicable to fluidized mining and a mining method therefor are provided herein. A microwave transmitting mechanism, a liquid jet drill rod and a cutter-head are arranged at the head of a first excavation device of the mining machine. The ore body in front is first processed by the microwave transmitting mechanism and the liquid jet drill rod to reduce the strength of the ore body, which facilitates subsequent mining of the ore body, lowers the hardness requirements of the cutter-head, and reduces the wearing of the cutter-head. With this mining machine mining the ore body, the mined ores can be directly converted, under the ground, into resources in the easily transportable form, without transporting the ore to the surface for conversion, which saves the cost of transporting the ore to the surface.