The invention provides a coding method for a well logging signal during drilling. The coding method for the well logging signal during drilling adopts a 7/5 wavelet compression algorithm and a forward error correction coding technique; abnormal value elimination preprocessing is conducted on logging data, and a 3[delta] criterion is adopted; a wavelet is constructed by adopting a biorthogonal condition construction method, and a 7/5 filter bank is established; a wavelet scaling function and a wavelet function are constructed based on the 7/5 filter bank, compression processing is conducted on the collected signal according to an established 7/5 wavelet compression algorithm mathematical model, compressed data adopt forward error correction coding, forward error correction coding comprises outer coding, interleaving and inner coding, and outer code and inner code are both adopt BCH code; and processed data are transmitted to the ground through a drilling fluid pulse mode, a ground receiving end decodes the BCH code by adopting a Berlecamp iterative algorithm, and after decoding, uncompressing is conducted to restore the true physical values of the collect data. The coding method for the well logging signal during drilling has the advantages that the coding method presents outstanding effects at the aspects of transmission efficiency and reliability, the downhole measured data are uploaded timely and accurately, and the efficiency of oil-drilling measuring is enhanced.