The invention discloses a calcination rotary kiln exhaust heat recovery device capable of recycling calcination rotary kiln exhaust heat and a heat recycling method. The device comprises a calcination rotary kiln, a cold air pipe, a fan and a heat exchanger; the calcination rotary kiln is provided with an exhaust outlet and an air inlet; the heat exchanger comprises a gravity-type heat pipe and a heat exchange chamber; a clapboard is arranged in the heat exchange chamber and divides the heat exchange chamber into a first heat exchange chamber and a second heat exchange chamber; the gravity type heat pipe is installed in the heat exchange chamber; the first heat exchange chamber is provided with a cold air inlet and a cold air outlet; the second heat exchange chamber is provided with a flue gas inlet and a flue gas outlet; the exhaust outlet and the flue gas inlet are communicated with each other; the fan is communicated with the cold air inlet through a cold air pipe; and the cold air outlet is communicated with the air inlet. By using the device and the method, the calcination rotary kiln exhaust heat can be recycled, energy conservation and emission reduction are achieved; and production cost is reduced.