Machining equipment for high-grade steel pipe end surfaces with large apertures and wall thicknesses comprises a fixed base, a movable base, a central gear transmission supporting device, a special power head and a feeding mechanism. The central gear transmission supporting device is fixed onto the movable base, the special power head consists of a portal framework, a large disc, a large disc supporting positioning mechanism, a large disc rotation transmission mechanism, a cutter head mechanism and two cutter head transmission phantom gear mechanisms, the cutter head mechanism comprises a chamfering cutter head mechanism and a plane milling cutter head mechanism, and a following mechanism is arranged above the chamfering cutter head mechanism. The machining equipment has the advantages that a rotation and revolution mode is adopted, chamfering of outer edges and machining of end surfaces of a steel pipe wall can realized by one-step machining, an automatic steel pipe finishing production line consists of the equipment, a feeding device, a clamping device and the like, accordingly the steel pipe machining range is greatly expanded, requirements of the petroleum industry and the like on machining of high-grade steel pipes with large apertures and wall thicknesses can be met, and the equipment is stable in running, high in machining capacity and efficiency and fine in quality.