The invention provides a water storage light wave heating vertical electric wall-hanging stove. The water storage light wave heating vertical electric wall-hanging stove comprises a shell, a water tank, electric heating tubes and a water pump. The one or more light wave electric heating tubes are arranged in the water tank. A water inlet of the water tank is connected with the water pump. A hot water outlet pipe is connected with a heating system to form a circulation path. A plate heat exchanger is arranged outside the water tank. Hot water in the water tank is fed into the plate heat exchanger through an electric three-way valve to be subjected to heat exchange so as to provide domestic hot water.