The invention discloses a processing technology for a drilled and cooled cylinder liner, which comprises the following steps of: a, coating a coating, preparing a metal mold and a baffle plate, wetting a residual coating in an inner cavity of the metal mold by using water for removal, adding into a kiln, preheating, and preparing the coating from quartz powder of 150 to 200 meshes, bentonite, lead powder, platy lead powder, diatomite, water glass and water; b, smelting and pouring, namely adding new pig iron, a waste material, waste steel and an iron alloy material in turn, sampling for testing when the smelting temperature reaches 1,250 DEG C, adjusting the components of molten iron according to a test notice, cutting off electricity when the smelting temperature reaches 1,520+/-5 DEG C (a thermocouple measures the temperature), standing for 2 to 3 minutes, and preparing for discharge; c, repairing a pouring system, quantizing a pouring ladle, and repairing according to the dimensional requirement of water gap flow; and d, demolding a casting, performing heat treatment on the casting, and delivering. The processing technology for the drilled and cooled cylinder liner is high in processing accuracy and strict in processes, and the processed product has high quality.