The invention discloses emulsion recycling, purifying and regenerating equipment and method. The equipment comprises a Y-shaped filter, a dosing tank, metering pumps, a pipeline mixer, a multiphase medium pump, an ozone generator and a copolymerization and separation device, wherein the interior of the copolymerization and separation device is divided into four zones, namely a hybrid reaction zone in which baffle plates are located, an upper floating oil sludge separation zone above the baffle plates, a purification liquid collecting zone on the peripheries of the baffle plates and an outermost floating oil sludge collecting and separating zone; a purified emulsion collecting pipe, the baffle plates and a floating oil residue collecting and discharging pipe are installed inside the copolymerization and separation device from bottom to top in sequence. The purifying and regenerating method comprises the steps of filtration, agent addition and mixing, pressurization for gas dissolving, ozone sterilization, solid-liquid separation and liquid and residue discharge. The equipment and the method have the beneficial effects of achieving online recycling, purifying and using of the emulsion, prolonging the service cycle of the emulsion, reducing waste emulsion output and being beneficial for reducing the production cost and protecting the water environment.