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The development of new drilling methods is important for the exploration and production of oil fields. The pulsed jet is a drilling technology of high potentiality. This article proposes a new concept of suck-in pulsed jet with self-excited oscillation, by which a full use of the hydraulic power can be made in the annular space. A hydrodynamic analysis of suck-in pulsed jet with self-excited oscillation is carried out by numerical simulations and rock-breaking experiments. It is shown that with the jet, a negative pressure zone will be formed in the oscillation cavity to ensure automatic sucking of enough annular fluids and the formation of an efficient pulsed jet. The rock-breaking and pressure testing results have verified the reliability of the numerical simulation. The research provides a basis for the development of the pulsed jet drilling technology.