Abstract: In order to make up the shortage of traditional drilling parameter optimization model that can’t apply to PDC bits,based on the roller cone bit drilling parameter optimization theory,this paper introduced the parameters of drilling cost and drilling speed.Combined with PDC bit drilling rate equation,wear equation and variation of drilling rate with the cumulative footage,the dual-goal PDC bit drilling parameter optimization model was built taking drilling rate and cost into account.This model can set drilling cost coefficient and drilling rate coefficient according to the specific objectives of cost reduction or speed increase,optimize and design the drilling parameters taking into account the costs and drilling rate.The calculation of drilling data in Xinchang site in western area of Sichuan verified the validity of the model,which indicated that this modal could be used for PDC bit drilling parameter optimization design with the dual goals.