The invention provides a punching device with waste material recycling. The device comprises a base; side plates are arranged on the base; a stage is arranged between the side plates; a top plate is arranged between the ends of the side plates; and the top plate is provided with an automatic punching machine which is arranged above the stage. A guide rod is arranged on the base; a sliding seat is arranged above the guide rod; slide blocks are arranged below the sliding seat; and the slide blocks sleeve the peripheral surface of the guide rod. A waste material recycling trolley is arranged on the sliding seat and has a storage chamber inside. According to the invention, the waste material can be quickly recycled through the waste material recycling trolley and the waste material recycling trolley can slide horizontally along the guide rod through the slide blocks, so as to facilitate the flexible movement adjustment of the waste material recycling trolley and facilitate the transportation of the waste material.