The utility model relates to a rolling oil mist collection, purification and recovery installation for double-stand cold mill units, which consists of oil mist collection hoods, oil mist collection pipes, a fire damper, an oil mist separator, inlet and outlet pipes thereof, a flexible compensator, an air volume regulator, a centrifugal blower, a main exhaust pipe, a chimney, a discharge tube and an oil collection sump, and the installation is characterized in that the installation can collect, purify and recover the rolling oil mist produced by a double-stand cold mill unit. The oil mist collection hoods are respectively arranged over the inlet side and the outlet side of the unit to collect rolling oil mist, the collected oil mist enters the oil mist separator sequentially via the branchcollection pipes, the main collection pipe and the fire damper, and is cooled and filtered in the separator, more than 90 percent of oil mist is turned into emulsified liquid, which is collected on the bottom of the separator and drained into the oil collection sump via the discharge tube, and the rest 10 percent of oil mist is discharged by the blower via the chimney in accordance with emission standards. The installation not only can reduce environmental pollution, but also can collect emulsified liquid, thus providing precondition for further recycling.