The invention relates to polishing equipment with a shock absorption function and for a metal tool. The polishing equipment comprises a main body, a polishing disc, a handle, a driving motor, a protective cover, a shock absorption mechanism and two heat dissipation mechanisms, wherein the shock absorption mechanism comprises a moving plate, a telescopic frame, a slideway, two hinged blocks, two shock absorption blocks, two shock absorption assemblies and two auxiliary assemblies; and each heat dissipation mechanism comprises an air cylinder, a piston, a connecting rod, a connecting pipe, a hose, a first spring, a supporting shaft and a nozzle. The polishing equipment with the shock absorption function and for the metal tool has the advantages that through the heat dissipation mechanisms, the nozzles can blow air to the polishing disc, the air circulation speed around the polishing disc is accelerated, the heat dissipation function is realized, the polishing disc is prevented from beingdamaged due to overheating, the safety of the equipment is improved, the damping and buffering function of the equipment is realized through the shock absorption mechanism, the situation that the equipment cannot work normally due to excessive vibration is avoided, and thus the reliability of the equipment is improved.