To address the problems of low drilling efficiency and rapid tool wear in frozen strata, a novel rotary-percussive drilling tool is designed. The tool integrates a rod body, flow channels, functional cutters, and chip evacuation spaces. Five wedge-shaped cutters with an inner-wide and outer-narrow geometry are arranged in a pentagonal pattern on the tool face. The stress concentration effect at the wedge tip induces brittle fragmentation of the frozen rock, while the divergent chip grooves increase the instantaneous chip evacuation capacity. Taking in-situ frozen sandstone from the Xinjie mining area in Ordos as the research object, dynamic stress-strain curves of rock samples were obtained using a Split Hopkinson Pressure Bar (SHPB) system at -10 ℃ and strain rates of 100~300 s-1. An SHPB numerical model was established based on LS-DYNA, and an L27(313) orthogonal experiment was conducted to calibrate thirteen key parameters of the Riedel-Hiermaier-Thoma (RHT) material model, including relative shear strength and relative tensile strength. The optimized simulated curves showed good agreement with the experimental curves in terms of peak strength, peak strain, and the post-peak softening segment. Subsequently, a finite element model of rotary-percussive drilling in frozen strata was developed, and the coupling effects of rotational speed (100~300 r/min) and impact frequency (40~80 Hz) on rock-breaking behavior were systematically investigated. The results show that the rock-breaking process of the new tool can be divided into three stages: efficient penetration, rate attenuation, and steady-state equilibrium. Under the condition of 50 Hz and 250 r/min, the rock-breaking speed of the new tool is approximately 34.5% higher than that of a conventional tool, and the minimum energy consumption per unit depth (181.2 J/mm) is about 23% lower than the optimal energy consumption of the conventional tool (236.4 J/mm). There exists an optimal matching relationship between impact frequency and rotational speed. In the range of 40~70 Hz, the optimal rotational speed is approximately 250 r/min; at 80 Hz, the optimal rotational speed shifts to approximately 200 r/min. Within the parameter range of this study, rotational speed has a more significant effect on rock-breaking speed than impact frequency. In field tests, the new tool achieved an average drilling speed of 42.6 m/h, which is about 50.5% higher than that of the conventional tool (28.3 m/h). The average tool life increased from 103 m to 215 m, and no bit sticking occurred. These results validate the high efficiency and reliability of the new tool in frozen strata, offering a reference for the design of equipment used in the freeze-shaft sinking method for coal mines.