The invention provides a trepanning device used for a copper bar insulation sleeve. The device comprises a mounting frame and a trepanning device; the mounting frame comprises two supporting feet anda cross beam for connecting the two supporting feet, the trepanning device comprises a sleeve, a connecting screw rod and trepanning knives, the trepanning knives are vertically placed, knife bits face downwards, the two trepanning knives are arranged and are symmetrically arranged along the connecting screw rod, the lowest points of the knife bits of the two trepanning knives are located on the same horizontal plane, the trepanning knives and the connecting screw rod are connected through connecting strips, the connecting strips are horizontally arranged and move in the length direction, theinteriors of the connecting screw rod is hollow to form a mounting cavity, a laser assembly is arranged in the mounting cavity, when the two trepanning knives rotate, the cutting thicknesses of the insulation sleeve are the same, in the trepanning process, the copper bar stress is uniform, a zinc coating of the copper bar is prevented from being scratched, and use is reliable. The invention further provides a use method of the trepanning device. The rotating type trepanning work is adopted, and in the trepanning process, the damage to the zinc coating of the copper bar is avoided.