The invention provides an antenna structure for intelligent wearable equipment, and an intelligent watch employing the antenna structure. The antenna structure comprises a housing and an intelligent circuit module. The housing comprises a first housing and a second housing, wherein the first housing is made of a conductive material, and the second housing is used for storing the intelligent circuit module. The intelligent circuit module comprises a PCB with an antenna feed point. The first and second housings are assembled and connected to form the housing, and are insulated from each other. The interior of the second housing is provided with an elastic connection part, wherein one end of the elastic connection part is connected with the first housing, and the other end of the elastic connection part is connected with the antenna feed point of the PCB in the second housing. According to the invention, a conventional wearable product housing is divided into an antenna radiation end and other parts, which are isolated with each other in an insulated manner through an insulating material. The antenna structure truly achieves the combination of the conventional technology and the advanced technology under the condition that the appearance beauty of conventional wearable equipment is not damaged.