East of England Ambulance Service said the victim in his 20s was replacing telegraph poles in Haddenham, near Ely when the drill fell from a cherry picker on Wednesday morning.
It punctured his neck narrowly missing his head and spine.
Mick King, paramedic for the East of England Ambulance Service NHS Trust (EEAST), said: “We believe the industrial drill had fallen from a cherry picker that was above the man who was on the ground working, and entered the back of his neck.
“It was embedded in by several inches but fortunately it just missed both his head and spine.
“We received a 999 call at 10.10am and sent an ambulance and Magpas Helimedix to the scene.
“After assessing the patient the critical care doctor sedated him, before he was taken to Addenbrooke’s Hospital by land ambulance.
“On arrival he was believed to be in a serious but non life-threatening condition.
“Had the drill landed a slightly different place then things could have been a lot different – it’s certainly one of the more unusual incidents that I’ve attended.”