A drill head locking apparatus and a drill head. The locking apparatus comprises: a flange (1) having a through hole, a bearing (8) arranged on the inner wall of a small cylinder on the flange, a locking sleeve (2) arranged over the flange, a protrusion (5) arranged on the upper part of the inner wall of the locking sleeve (2), the lower part of the inner wall of the locking sleeve (2) having a conical face (3). A spring (9) is arranged between the bottom face of the conical face (3) and an upper bottom face (10) of the flange. A pressing plate (6) is threadedly connected on the outer wall (7) of the top part of the small cylinder on the flange and presses down on the protrusion (5). A conical hole (11) is arranged in the corresponding position on the wall of the small cylinder on the flange and on the conical face (3), and a steel ball (4) is arranged in the conical hole. The drill head locking apparatus and the drill head are easy and convenient to operate, providing a firm securing effect when in locking status and improved safety.