The invention discloses a stepped round nose cutter. The stepped round nose cutter comprises a cutter handle, a first cutter pole, a second cutter pole, a third cutter pole, a scrap discharging groove, cutting edges, a cutter bit, a cutter blade, a limiting base, a connecting rod, a positioning groove and a clamping rod. The stepped round nose cutter has the advantages that the diameters of pole bodies of the first cutter pole, the second cutter pole and the third cutter pole are reduced gradually to form a stepped cutter pole, and therefore the stepped round nose cutter can adapt to round holes with different machining sizes; the end edge of the cutter bit is in a circular arc shape, the end cutting edge of the cutter bit and the linear cutting edge are connected through a transitional circular arc, and therefore the round nose cutter is not blocked easily during machining. A long and short edge opening cross-over design is adopted for the cutter bit, the blade is in high-low intersecting connection, cutting resistance is reduced, the blade is detachably connected with the cutter bit through a fastening bolt, a new blade is conveniently used for replacement, the blade has a cutterpoint protective angle, the cutter point of the blade is coated with a micro-nano composite coating so that the blade has sufficient strength and anti-impact performance, and meanwhile good resistance to high-temperature oxidation and abrasion resistance are realized.