The abundant oil and natural gas resources in the Arctic cold regions have driven people to conduct drilling operations in these harsh environments. During drilling operations in Arctic permafrost regions, the linear heat source effect generated by the flow of drilling fluid in the wellbore continuously melts the surrounding permafrost, which can lead to wellhead settlement and instability of the wellbore wall, among other accidents. In order to provide guidance for drilling engineering in cold regions, there is an urgent need to study the coupled heat transfer between the wellbore and the permafrost in Arctic drilling. Due to the significant influence of hydrothermal coupling process in permafrost on temperature transfer, conventional wellbore heat transfer models are not suitable. Therefore, this paper proposes a hydrothermal coupling model between the wellbore and permafrost for drilling in Arctic cold regions and analyzes the heat transfer in the wellbore and the hydrothermal processes of the formation using numerical methods. By applying this model, the insulation effects of existing main wellbore temperature control and insulation technologies were studied. The main research findings indicate that drilling process can cause the permafrost around the wellbore to thaw, and the thawed permafrost around the wellbore presents a “horn” shape that expands from the wellhead to the bottom of permafrost layer; Without insulation measures, the volume of thawed permafrost around the wellbore can reach 315 m³ after 7 days of circulation; During the drilling process, moisture migration occurs. Under the effect of gravitational seepage, unfrozen water content in the thawed permafrsot around the wellbore increases from the wellhead to the bottom of the permafrsot layer; Vacuum insulated tubing has almost negligible impact on the temperature of the drilling fluid in the wellbore, while it can reduce the volume of thawed permafrost around the wellbore by 62.5 % to 88 % or even higher; Drilling fluid cooling systems can significantly lower the temperature of the drilling fluid in the wellbore but cannot effectively prevent the thawing of permafrost around the wellbore. Therefore, in practical drilling operations, priority should be given to using high-quality vacuum insulated tubing or combining both methods simultaneously.