The invention relates to a compound double-circulation under-balanced casing pipe while-drilling drilling technology. The compound double-circulation under-balanced casing pipe while-drilling drilling technology is characterized in that a drilling and make-a-connection drilling technology is adopted, an air compressor and a water pump are started, vaporous water in a pipeline pushes an air hammer to work through an air inlet pipe, a compound double-circulation drilling tool is driven to work, finally vaporous water is drained through a chip removal device, a slush pump is started at the same time, slush enters the annular part of a casing pipe and the annular part of a drilling rod through an air exhaust box, flows to the well wall and the annular part of the casing pipe through a fairing, upwards returns to a wellhead slush tank and circulates repeatedly, and it is ensured that pressure of the well wall is balanced; when make-a-connection is performed, a three-way valve is opened, and vaporous water formed by the air compressor and the water pump is reversed by the three-way valve, enters a continuous air supplying system and enters the air inlet pipe through the continuous air supplying system to push the air hammer to work and drive the compound double-circulation drilling tool to work. The difficult problems such as collapse, air leakage, hole shrinkage, chip off-falling, deviation control, straight hitting, water coning, drilling tool jamming and blowout in the under-balanced drilling process are solved, and the drilling speed is greatly increased.