The invention discloses processing equipment for cutting fluid waste water. The equipment is characterized by comprising a sewage pump, a multi-phase medium pump, a medicine addition system, a coagulation air floatation separator and an integrated purifier. The medicine addition system comprises a de-emulsifier addition box and a PAM coagulant aid addition box; the integrated purifier comprises a multi-stage biomembrane purifying zone, a biological active carbon purifying zone and a contact deposition filtering adsorption separating zone. The invention also provides a processing method of the above processing equipment; and reasonable connection of each apparatus realizes processing on the cutting fluid waste water. Through the integrated design, the invention can realize advantages of small land occupation of equipment, high degree of automation, good purification effect and convenience for daily maintenance and management, etc.