A hydraulic cutting drill bit with self-carried abrasive material, comprising a drill bit and cutting heads (20) installed around a drill bit top portion. The drill bit is composed of a drill bit outer wall (1) and a drill bit chamber body. Inside the drill bit chamber body is provided a low pressure cooling water flow system and a high pressure cutting water flow system, a high pressure water-sand mixed solution abrasive material production and addition system, and a high/low pressure water flow dividing control system. The drill bit can improve water jet flow cutting ability and cutting speed, increases energy obtained by a high pressure water jet flow, increases cutting range, and enhances directional fracturing performance in a drill hole, thereby reducing the number of drill holes in a workface and so reducing costs.