The invention discloses an electric driving and energy recycling device for an electric automobile and an energy recycling method thereof, and belongs to the field of mechanical energy control through connection with motors. The electric driving and energy recycling device comprises a magnetic gear, a first motor and a second motor. A rotor in the magnetic gear is in transmission connection with a flywheel rotor in the first motor, and an outer rotor in the magnetic gear is sleeved with a second stator in the second motor. According to the electric driving and energy recycling device for the electric automobile and the energy recycling method thereof, a flywheel energy storage structure is arranged in the device, the integration degree is high, and the functions of driving and energy storing can be achieved at the same time; and when the electric automobile is started and accelerated, a flywheel body can assist in providing power. During braking, the electric driving and energy recycling device and the energy recycling method thereof can directly convert recycled energy into kinetic energy of the flywheel body, so that energy loss is reduced, and system efficiency can be improved easily.