The invention provides an energy storage battery based elevator energy recovery system and method. The energy storage battery based elevator energy recovery system comprises an elevator power prediction module, an energy storage battery, a grid-connected inverter and a bidirectional DC/DC converter; the elevator power prediction module is used for predicting an average power required for a next running period of an elevator according to data information before elevator running; the grid-connected inverter is used for transmitting the average power required for the next running period of the elevator; the bidirectional DC/DC converter is used for driving the energy storage battery to absorb a peak power generated during elevator running; and the energy storage battery is used for charge-discharge control according to busbar voltage fluctuation. For the energy storage battery based elevator energy recovery system and method provided by the invention, by predicting the elevator running average power, the grid-connected inverter is controlled to perform constant-power running, grid-connected power fluctuation is reduced, and the grid-connected power quality is improved; by only predicting one numerical value of the elevator running period average power, a calculation amount of the elevator power prediction module is lowered, the calculation cost is lower, and the efficiency is higher; and by using the energy storage battery and the grid-connected inverter together to recovery an electric energy, the recovery efficiency is high.