The invention discloses a flat waste wire recycling and drawing process and a wire-drawing pay-off mechanism, aiming at overcoming the defects that waste wire recycling is low in product quality and high in energy consumption, and has potential safety hazard. The process comprises the following steps: a. carrying out butt welding on recycled waste wires to enable the waste wires to form linear shapes; b. carrying out press molding on the waste wires, specifically, putting the welded waste wires onto a pressing machine for pressing into flat waste wires; c. carrying out rough drawing on the flat waste wires, specifically, using a wire-drawing machine to carrying out wire-drawing operation on the flat waste wires for the first time; d. collecting the wires, specifically, winding the wires on a pay-off spool after the flat waste wires are subjected to rough drawing; e. carrying out annealing softening, specifically, putting the pay-off spool with the flat waste wires into an annealing furnace for carrying out annealing softening; f. taking out the pay-off spool in the annealing furnace, and cooling the flat waste wires by using air; g. using the pay-off spool to pay off the flat waste wires, and then using a shell removing wheel to remove an oxidation layer on the surface of each flat waste wire; h. carrying out finish drawing on the flat waste wires, specifically, sending the flat waste wires into the wire-drawing machine for carrying out finish cold drawing, and then winding the flat waste wires on a take-up spool for taking up the wires.