A medical hearing-aid earphone includes a housing, and a battery assembly and a circuit board assembly located in the housing, where the housing is internally provided with a sound cavity, and the medical hearing-aid earphone further includes a speaker assembly located in the housing and a holder sleeved outside the speaker assembly. The holder and the speaker assembly divide the sound cavity into a front sound cavity and a rear sound cavity, where a relative position of the speaker assembly in the holder is adjustable during assembling. The medical hearing-aid earphone is convenient to adjust space sizes of a front sound cavity and a rear sound cavity, so that the medical hearing-aid earphone can be customized according to requirements of different users and has a larger application range.