The invention discloses a cooling and heat insulating system for an exhaust pipe of a motorcycle. The cooling and heat insulating system for the exhaust pipe of the motorcycle comprises an exhaust pipe body. One end of the exhaust pipe body is connected with a combustion chamber of the motorcycle. The exhaust pipe body comprises an exhaust pipe inner pipe part and an exhaust pipe shell which is arranged outside the exhaust pipe inner pipe part in a sleeving mode. A cooling layer is arranged on the inner wall of the exhaust pipe inner pipe part. A heat insulating layer is arranged between the exhaust pipe inner pipe part and the exhaust pipe shell. In this way, the cooling and heat insulating dual-protection system is arranged on the exhaust pipe of the motorcycle based on an original exhaust pipe, automatic cooling is conducted through the cooling layer on the inner wall of the exhaust pipe when high-temperature waste gas is exhausted, then the situation that the high temperature in the exhaust pipe is transmitted to the shell can be avoided through auxiliary heat insulation of the heat insulating layer, and the probability that a user is scalded is effectively lowered; the structure is simple, and the practicability is high.