The invention discloses a catalytic cracking method and device. The method comprises the following steps: introducing raw oil into a lower part of a riser reactor to contact and react with a catalyst from a catalyst heat exchanger; separating oil gas after the reaction from a coked catalyst; introducing separated reaction oil gas into a fractionating tower; carrying out steam stripping on the separated coked catalyst and sending the coked catalyst into a regenerator for regeneration; carrying out heat transfer and cooling on the regenerated catalyst and part of system prevailing wind within the catalyst heat exchanger; sending part of the regenerated catalyst into the riser reactor from different heights of the riser; and sending the other part of the regenerated catalyst into the lower part of the riser reactor. The method can reduce total yield of dry gas and coke by 0.8-2 percentage, increase total liquid yield of liquefied gas, gasoline and diesel by 1.2 percentage, and reduce volume content of gasoline olefin by 5-15 percentage.