The invention provides a process of maximizing production of chemical raw materials by gaseous phase catalytic cracking crude oil with multi-stages in milliseconds in combination with hydrogenation, comprising: a high-efficiency atomizing nozzle sprays the preheated crude oil into an upper portion of the downflow modification reaction tube, the produced oil mist is mixed with a high temperature heat carrier flowing downward from a first return controller for pyrolysis in milliseconds and then the pyrolysis products are subject to a gas-solid separation; the coked heat carrier obtained by the separation enters into a modification regeneration reactor to conduct a regeneration reaction, the obtained high temperature heat carrier returns to a top of the downflow reaction tube to participate in circulation, the regeneration gas is subject to heat exchange and then output; the high temperature oil and gas produced by the pyrolysis reaction directly flow into the millisecond cracking reactor and conduct a cracking reaction with the regenerated cracking catalyst and subject to a gas-solid separation; then the cracking catalyst to be regenerated enters the crack regeneration reactor and performs a regeneration reaction and then are subject to a gas-solid separation, the obtained high temperature crack catalyst passes through a second return controller and flows into the millisecond cracking reactor to participate the circulation reaction, the obtained flue gas is subject to heat exchange and then output; the cracked oil and gas produced by the cracking reaction enter into a fractionation tower for separation, thereby obtain the cracked gas, gasoline fraction, diesel fraction, recycle oil and oil slurry; furthermore, the diesel fraction, recycle oil and oil slurry are subject to saturation or open-ring in a hydrogenation reactor, return and mix with crude oil such that the mixture is used as a raw material.