The invention discloses a deoiled asphalt processing method. The method comprises the steps that a primary mixed material formed by mixing deoiled asphalt with light wax oil for circulation from a fractionating tower enters a heating furnace from a convection section of the heating furnace, a secondary mixed material formed by mixing heavy wax oil for circulation from the fractionating tower with the primary mixed material which comes out of the convection section of the heating furnace enters the heating furnace from a radiation section of the heating furnace, the secondary mixed material enters a coke tower for coking reaction after coming out of the radiation section of the heating furnace, and the reacted material enters the fractionating tower to be fractionated. By carrying out thermal cracking reaction on deoiled asphalt, a way out for deoiled asphalt is broadened, light fuel oil productivity is improved, and comprehensive benefits of heavy oil processing are improved.