The type and property of drilling fluids play an important role in improving core drilling efficiency in the polar ice and ensuring the stability of borehole. Based on the investigation of the working principles of armored electric machinery drilling tools and the cycle approach of drilling fluids, this paper made a detailed analysis on the relationship between the rising and falling speed of drilling tools and the viscosity and density of drilling fluids. Current types of drilling fluid and their existing problems were also discussed. The type and property of the drilling fluid available to the polar ice core drilling were determined based on the test data of the binary fatty acid glycol ester, low molecular weight saturated fatty acid ester and methyl silicone oil.