The invention discloses a drilling and cutting device for an insulation plate. The drilling and cutting device comprises a first guide rail and a second guide rail. The first guide rail and the second sliding rail are provided with working mechanisms in a sliding manner. Each working mechanism comprises a first stand column perpendicularly arranged on the first guide rail in a sliding manner, and a second stand column perpendicularly arranged on the second guide rail in a sliding manner, wherein a cross beam is horizontally connected between the first stand column and the second stand column and is fixedly connected with a rotating device. Each rotating device is provided with a heating device. Each heating device is provided with a cutting heating wire and a drilling heating wire, wherein the drilling heating wire can rotate around the central axis of the drilling heating wire. By means of the drilling and cutting device for the insulation plate, automatic production of drilling and cutting of the insulation plate is effectively achieved, the machining precision is improved, waste of the insulation plate is avoided, meanwhile the number of operators is reduced, and therefore the construction cost is reduced.