The invention discloses an axial locking mechanism of a machine tool spindle, comprising a spindle, a spindle box body, a fixed friction ring, a movable friction ring, a spring and an oil cylinder, wherein friction sheets which have position and shape corresponding to the fixed friction ring and the movable friction ring are respectively arranged on the side surfaces of the fixed friction ring and the movable friction ring, the fixed friction ring is fixedly installed at one end of the spindle, the movable friction ring is sleeved on the spindle box body through a guide ring and is arranged at one side of the fixed friction ring, the spindle box body is provided with the oil cylinder, a piston is arranged in the oil cylinder, one end of the piston is fixedly connected with the movable friction ring, the spring which is arranged between the piston and one end surface of the oil cylinder is also sleeved on the piston, and the other end of the oil cylinder is communicated with a pressure oil device. The axial locking mechanism of the machine tool spindle has a simple and reasonable structure and is suitable for realizing industrial production as an axial locking device of the machine tool spindle; and with the adoption of the axial locking mechanism of the machine tool spindle, three working states including high speed running, self-clutching low speed rotation and complete locking of the machine tool spindle can be supplied, and the rigidity of the spindle under various working states is effectively improved.