High-frequency torsional impact drilling (HFTID) is a new technology which provides stable and efficient drilling. The goal of the present study is to investigate the effects of high-frequency torsional impacts on rock drilling. The impact parameters of the high-frequency torsional impact generator (HFTIG) are obtained by conducting a series of laboratory tests. The results of the tests reveal that the impact time decreases and the impact force increases with increasing impact frequency. The parameters are used as input for simulations of the rock crushing process, and a series of models for investigating the respective performance of HFTID and conventional drilling are developed. In addition, the Drucker–Prager criterion is used to describe the constitutive laws of the rock element, and the equivalent plastic strain criterion is adopted as the damage criterion. The models are run to simulate the dynamic rock crushing processes. The results of the simulations show that increase of the impact frequency results in a significant improvement in the rate of penetration (ROP), and a decrease in the life of the HFTIG. Considering the tool life and ROP, the optimum impact frequency of the HFTIG is 15 Hz. Finally, the performance of the HFTID technique is evaluated.