The invention discloses a method and a device for circulating cooling, acoustic agglomeration, water lifting and smoke plume reduction. The method comprises the steps of carrying out heat exchange on a high-temperature flue gas in a flow field through heat exchange means; cyclically utilizing heat energy generated after heat exchange, separating out a lot of droplets from the flue gas after heat exchange and then agglomerating the droplets through an acoustic agglomeration mode; and collecting the agglomerated droplets, carrying out solid-liquid-gas separation and lifting water for reuse. The device comprises a flue gas circulation cavity, wherein the flue gas circulation cavity is sequentially provided with a circulating cooling device, an acoustic generator and a demisting and water lifting device from an inlet of the cavity to an outlet of the cavity; and the circulating cooling device is a device for circulating heat exchange through heat absorption for vaporization and heat release for liquidation of a liquid medium. Through triple combined effect of circulating cooling, acoustic agglomeration and demisting and water lifting, solid-liquid-gas separation and efficient water lifting are effectively achieved; meanwhile, pollution of ultrafine particles can be deeply and cooperatively processed and ultralow emission is achieved.