ObjectiveOsteonecrosis of the femoral head (ONFH) is a disease that occurs frequently in young and middle‐aged people. Because of its high disability rate, it affects the ability to work, so the early treatment of this disease is particularly important. This retrospective study aimed to evaluate the clinical efficacy of hip arthroscopy combined with multiple small‐diameter fan‐shaped low‐speed drilling decompression (MSFLD) in treating early‐mid stage ONFH (ARCO II‐IIIA) compared to MSFLD, with at least 10‐year follow‐up.MethodsA total of 234 patients who underwent hip arthroscopy and MSFLD for ONFH from 1998 to 2012 were analyzed retrospectively. This study enrolled patients between 18 and 60 years old with ARCO stage II‐III A, diagnosed clinically and through imaging, in accordance with the 2021 guidelines for the treatment of ONFH. Clinical data, including demographics, operation mode, BMI, pre‐ and postoperative Harris score, and femoral head survival rate, were collected. Patients were divided into hip arthroscopy + MSFLD and MSFLD groups based on the operation mode. The t‐test was used to compare the postoperative efficacy, Harris scores, and survival rates of the femoral head between the two groups.ResultsAmong the 234 patients, 160 cases were followed up, including 92 cases in the hip arthroscopy + MSFLD group and 68 cases in MSFLD group, the follow‐up rate was 68.38%, and the follow‐up time was (10–22)14.11 ± 3.06 years. The Harris score (80.65 ± 6.29) in the hip arthroscopy + MSFLD group was significantly higher than that in the MSFLD group (p = 0.00), and the survival rate of femoral head (5‐year survival rate was 84.78%, 10‐year survival rate was 23.91%) was also higher than that in the MSFLD group (5‐year survival rate was 63.24%, 10‐year survival rate was 8.82%). The 5‐year and 10‐year survival rates of patients with ARCO II were 82.11% and 28.42%, which were better than 54% and 33% for ARCO III A. The femur head survival rate of alcoholic ONFH (5‐year survival rate 61.54%, 10‐year survival rate 9.23%) was significantly higher than that of other types of ONFH.ConclusionClinical follow‐up of at least 10 years suggests that hip arthroscopy combined with MSFLD is an effective treatment for early‐mid stage ONFH, with good clinical effect and high survival rate of femoral head.