Abstract: An automated system (100) and method for removing and installing drill bits or tricone bits that is safe, with low energy consumption and adaptable to existing drilling systems (1) and break-out wrenches (2), comprising: a base structure (101) that is attached to the drilling system (1); a mobile table (102) that moves on a base structure (101) for replacing tricone bits (103); a handling system (104) located on the base structure (101) for moving the tricone bits (103) from the mobile table (102) to the drilling system (1); control (200) that define the movement and synchronise the mobile table (102), the handling system (104) and the break-out wrench (2); and sensors, that supply data to the control means (200) on the location of the mobile table (102), the handling system (104), the hoisting claw (105) and the break-out wrench (2).