The invention provides a chemical polishing waste phosphoric acid treatment method which comprises the following steps: adding water or dilute polishing waste phosphoric acid, preparing urea phosphate from chemical polishing waste phosphoric acid, and diluting the obtained mother solution; adding an ammonia neutralizer into the diluted solution, and precipitating to remove metal ions; adding a precipitator into the solution in which the metal ions are removed so as to remove heavy metals and sulfate radicals; evaporating and concentrating the purified solution, cooling and crystallizing to recover monoammonium phosphate; and enabling the crystallized mother solution to return to the chemical polishing waste phosphoric acid so as to prepare the urea phosphate again. According to the method disclosed by the invention, phosphorus-containing products are mainly produced in a form of the monoammonium phosphate, the residual liquor is returned to be used in a front comprehensive utilization process, a small amount of sludge is produced in the reaction process, and the production process is simple in procedure, low in cost and high in utilization rate of nitrogen and phosphorus resources and has excellent economic value.