In this paper, we presented a detailed timing analysis of a prominent outburst of 4U 0115+63 detected by textit{Insight}-HXMT in 2017 August. The spin period of the neutron star was determined to be $3.61398pm 0.00002$ s at MJD 57978. We measured the period variability and extract the orbital elements of the binary system. The angle of periastron evolved with a rate of $0.048pm0.003$ $yr^{-1}$. The light curves are folded to sketch the pulse profiles in different energy ranges. A multi-peak structure in 1-10 keV is clearly illustrated. We introduced wavelet analysis into our data analysis procedures to study QPO signals and perform a detailed wavelet analysis in many different energy ranges. Through the wavelet spectra, we report the discovery of a QPO at the frequency $sim 10$ mHz. In addition, the X-ray light curves showed multiple QPOs in the period of $sim 16-32 $ s and $sim 67- 200 $ s. We found that the $sim100$ s QPO was significant in most of the observations and energies. There exist positive relations between X-ray luminosity and their Q-factors and S-factors, while the QPO periods have no correlation with X-ray luminosity. In wavelet phase maps, we found that the pulse phase of $sim 67- 200 $ s QPO drifting frequently while the $sim 16-32 $ s QPO scarcely drifting. The dissipation of oscillations from high energy to low energy was also observed. These features of QPOs in 4U 0115+63 provide new challenge to our understanding of their physical origins.
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