The invention discloses an industrial pulverized coal boiler exhaust gas recycling low-nitrogen combustion method. The method includes: using a part of exhaust gas extracted by a recycling fan as circulation exhaust gas, mixing the circulation exhaust gas and a part of high-temperature secondary wind, and then mixing the exhaust gas, the high-temperature secondary wind and a primary wind with pulverized coal; adjusting the amount of the extracted circulation exhaust gas according to the detected oxygen content of the mixed gas of the three kinds of gas, and then adjusting the oxygen content of pulverized coal airstreams entering a combustor; and adjusting the amount of the high-temperature secondary wind mixing with the circulation exhaust gas according to the detected temperature of the mixed gas of the three kinds of gas, and then adjusting the temperature of gas entering the combustor. The invention also discloses an industrial pulverized coal boiler exhaust gas recycling low-nitrogen combustion system which includes a primary fan, a first mixer, a boiler, a recycling fan, a second mixer and a secondary fan, wherein the boiler includes a combustor, a boiler chamber and an air pre-heating device, and an oxygen content meter and a thermometer are arranged between the first mixer and the combustor. The method and the system can improve the stability of pulverized coal combustion on the premise of an equal emission reduction effect.