A drill head locking apparatus and a drill head are provided. The locking apparatus includes a protruding platform having a through hole, a bearing on the inner wall of a small cylinder on the protruding platform, a locking sleeve fitted on the protruding platform, and a protrusion arranged on the upper part of the inner wall of the locking sleeve. The lower part of the inner wall of the locking sleeve is a conical face. A spring is arranged between the bottom face of the conical face and an upper bottom face of the protruding platform. A press plate is connected with a screw thread on the outer wall of the top part of the small cylinder on the protruding platform and presses down on the protrusion. A conical hole is arranged on the wall of the small cylinder and communicates with the through hole of the protruding platform.