The invention provides an oil balancing and returning air conditioning unit and a control method thereof. The oil balancing and returning air conditioning unit comprises outdoor units (201, 202, 203, 204) and indoor units (301, 302, 303, 304), each outdoor unit comprises more than two compressors (101, 102) which are arranged in parallel, air suction pipes (401,402) of each of the compressors are converged and connected to a gas-liquid separator (5), and exhaust pipes (601, 602) of each of the compressors are converged and connected to an oil separator (7), wherein each compressor is also provided with oil balancing holes (801, 802) used for discharging oil inside the compressor and oil balancing pipes (901, 902) connected with the oil balancing holes, and the oil balancing pipes of each of the compressors are converged and connected to a refrigerant outlet end of the oil separator (7). By using the oil balancing and returning air conditioning unit, oil in the compressors which are rich in oil can be effectively and uniformly distributed into each compressor and each outdoor unit through the oil balancing pipes, so that the problems of oil quantity distribution nonuniformity and oil level unbalance are solved.