The invention relates to bearing machining equipment, in particular to planetary bearing outer race knurling equipment. In the equipment, four driving assemblies are uniformly distributed on a rotary disk; and the driving assemblies sequentially drive a sun gear and planetary gears through an adjustable-speed motor so as to drive a bearing on a bearing clamp spindle head to rotate at constant speed, so that the bearing is knurled by a circle. Knurling knives are hinged, a lead screw adjusting roller moves to adjust the distance between a knurling rack left swing arm and a knurling rack right swing arm so as to adapt to to-be-knurled bearing outer races with different radiuses. After knurling is finished, a cam intermittent divider positioned at the bottom of a main rack and a rotating power motor drive to rotate so as to implement intermittent movement, after 90-degree rotation is finished, the positions of two knurling mechanisms are changed to the positions of the other two driving assemblies, bearings on the driving assemblies are knurled, while knurling, the knurled bearings on the previous two driving assemblies are changed, the time for placing of to-be-knurled bearings is saved, and therefore, a plurality of bearings can be simultaneously and continuously knurled.