The invention discloses the technical field of vertical multi-stage circulation incubation equipment, and in particular relates to vertical multi-stage circulation incubation equipment which is reasonable in structure, energy-saving and high in mechanical degree. The equipment comprises a box body, and is characterized in that an incubation area is arranged inside the box body; a vertical driving device chain group or a conveyer belt is arranged inside the incubation area; egg discs are arranged on the chain group or the conveyer belt vertical driving device; eggs in different developmental stages are positioned at different heights; an air outlet is formed in the upper part of the incubation area; an air outlet is formed in the lower part of the incubation area.