Provided is a method of preparing cellulose fiber and carbon fiber by recycling industrial wood waste, wherein the carbon fiber is prepared by preparing high purity cellulose pulp by using, as a raw material, wood waste generated by manufacturers of pulp, furniture and other industrial products from wood and by eliminating resin and lignin impregnated in the wood waste through pulping and bleaching of the raw material, by preparing cellulose fiber by directly dissolving the prepared pulp in a cellulose solvent, and then by performing stabilizing and carbonizing with the cellulose fiber as a precursor.