The present invention provides a system for treating wastewater produced during grinding and slicing in a semiconductor packaging process, comprising a collecting tank for collecting the wastewater produced during grinding and/or slicing in a semiconductor packaging process; a physical filtration device for separating the suspended materials from the wastewater by physical filtration, the physical filtration device being in fluid communication with the collecting tank; a receiving device for receiving the wastewater treated by the physical filtration device, and the receiving device being in fluid communication with the physical filtration device. The present invention further provides a method for treating wastewater produce during grinding and slicing in a semiconductor packaging process. The present invention simplifies the treatment of wastewater produced during grinding and slicing in a semiconductor packaging process, and lowers the cost.