The invention relates to a hydro-oscillator for well drilling. The hydro-oscillator consists of a hydraulic driving assembly, a fixed valve assembly, a bottom assembly and a vibrating pipe nipple, wherein the vibrating pipe nipple is connected with the hydraulic driving assembly; a rotor is connected with a vibrating valve; the fixed valve assembly is arranged on the bottom assembly; and a power shell is connected with the bottom assembly. A drilling fluid is used for driving the rotor to rotate, and the rotor is used for driving the vibrating valve to vibrate, so that flow holes of the vibrating valve and a fixed valve are staggered with each other, and simple harmonic pressure waves are modulated and are upwardly transmitted to a disc spring for driving the vibrating shell to perform continuous simple harmonic vibration in the axial direction, so that the friction resistance between a drilling column and a well wall is improved effectively, and the drilling speed is increased; and meanwhile, pressure waves are downwardly transmitted to drill bit jet flow, so that periodic change of rock breaking pressure is facilitated, and rocks are crushed effectively. The hydro-oscillator has the characteristics of simple structure, convenience for operating, safety, reliability, low pressure drop, high adaptability, no influence on the drilling tool structure and the like, and plays an important role in increasing the drilling speed and reducing cost.