The invention relates to the field of construction of underwater reinforced concrete precast slab piles, in particular to a piling device and method for construction of an underwater reinforced concrete precast slab pile. The piling device comprises a hull, a piling machine and a positioning device, a square receding groove is formed in the hull, and the piling machine is fixed to the upper part of the hull and located at one end of the receding groove; and a horizontal guide rail is fixedly arranged on the hull, the guide rail is flush with the receding groove in direction, the positioning device comprises a moving positioning mechanism, the moving positioning mechanism comprises a sliding block, a guiding sleeve, a moving positioning pile and a fastening structure, the sliding block is slidably connected with the guide rail, the fastening structure is used for maintaining the relative position between the sliding block and the guide rail, the guiding sleeve is fixedly connected withthe sliding block, and the moving positioning pile is vertically and slidably connected with the guiding sleeve. The hull is fixed relative to the river bottom through the moving positioning pile andother fixing structures, then the slab pile is hoisted and driven into the river bottom through the piling machine, the purpose of overwater piling is realized, the construction cost is greatly lowered, and the construction time is shortened greatly.