A trephine having a limiting sleeve (100), comprising a motor (200), an internal trephine, and at least one trephine sleeve (110); the trephine sleeve (110) is in rigid connection with a motor housing (208); the internal trephine is nested in the trephine sleeve (110) by means of at least two bearings (108, 112) and is driven, by means of the motor (200), to rotate; the internal trephine comprises a trephine drill bit (102), a connecting rod shaft (104), a coupling A (106), and a coupling pin (107); the trephine drill bit (102) is provided at one end of the connecting rod shaft (104), trephine sawteeth (130) are provided at the front end of the trephine drill bit (102), the trephine sawteeth (130) can extend out of the front end face (126) of the trephine sleeve for a certain distance, and the other end of the connecting rod shaft (104) is connected to a motor rotating shaft (206) by means of the coupling A (106) and the coupling pin (107). The external trephine sleeve (110) defines and adjusts the cutting depth (122a) of the internal trephine, while protecting a surgery operator and the tissue around a surgical site from being injured by a trephine rotating at a high speed; moreover, by drilling using the trephine having a limiting sleeve (100), a bone flap can be completely removed and retrieved from a trephined bone. The present invention realizes standardization and repetition of cranial defect (502) and drilling surgery, and makes the surgery simple, easy to operate, safe and reliable, efficient, and is less traumatic.