The invention provides a method for recycling iron and steel smelting waste. The method comprises the following steps that iron and steel smelting solid waste and iron and steel smelting wastewater are collected from iron and steel smelting waste, at least part of valuable metals are recovered from the iron and steel smelting solid waste, the iron and steel smelting solid waste which the valuablemetals are recovered is used for manufacturing a building material, the steel smelting wastewater is treated to remove at least part of heavy metals, and the steel smelting wastewater which the heavymetals are removed is used for reutilization and direct discharge. The method has remarkable progress on multiple aspects, and good economic benefit is obtained.