The invention discloses a common source receiving system of a seismic prospecting instrument and a VSP logging instrument. The system comprises the seismic prospecting instrument, a modulator, an encoder, a first broadcasting station arranged at the position where the seismic prospecting instrument is located, a second first broadcasting station arranged at the position where a shotpoint excitation device is located, a decoder, the shotpoint excitation device, a surface geophone, a VSP borehole geophone, a third broadcasting station and the VSP logging instrument, wherein the surface geophone and the VSP borehole geophone are arranged at receiving points, and the third broadcasting station is arranged at the position where the VSP logging instrument is located. The precise and synchronous relation among the seismic prospecting instrument, the VSP logging instrument and the excitation point is ensured through the modulator, the encoder, the decoder, the demodulator and radio stations connected between the modulator, the encoder, the decoder and the demodulator, two-dimensional and three-dimensional seismic exploration and VSP logging working are synchronously carried out, the shotpoint focus is shared, repeated excitation of the same excitation points in the same working area by the seismic exploration and the VSP logging is avoided, and the excitation workloads are saved by two times.