The invention provides a system and method for recycling flue gas waste heat and water while white fog of a coal-fired power station chimney is eliminated. The system comprises an absorber absorbing water vapor in flue gas through a salt solution, a solution reproducer, a corresponding heat recycling system and an integrated system for flue gas heat recycling before wet desulphurization. By means of the system and method, white fog of the wet desulphurization coal-fired power station chimney can be eliminated, especially, white fog in winter is eliminated, waste heat and water of flue gas can be recycled, the energy utilizing efficiency of a power station is improved, and consumed water of the power station is reduced.