The invention relates to a positive cycle and reverse cycle double-duty three cone bit which is adopted when in positive cycle drilling or reverse cycle drilling and is mainly composed of a
crossover sub, a reverse cycle flow inducing hood, a
drill bit body, a reverse cycle flow passage valve, a
nozzle flow passage valve, a reverse cycle flow passage, a sealing cavity which controls the reverse cycle flow inducing hood to go upwards and downwards and the like, when in the reverse cycle drilling, the reverse cycle flow inducing hood goes downwards, simultaneously, the reverse cycle flow passage valve opens, the
nozzle valve closes, and a flow inducing baffle plate directly induces annular fluid into the well bottom to strengthen the carrying
cutting capacity of the fluid. When in the positive cycle drilling, reverse cycle flow inducing hood goes upwards, simultaneously, the reverse cycle flow passage valve closes, and the
nozzle valve opens, which realizes the positive cycle drilling. In the process of drilling, Automatic switches between the positive cycle drilling and the
negative cycle drilling are realized through the
negative cycle flow passage valve, the nozzle flow passage valve and a sealing cavity passage according to the liquid flowing direction.