The invention relates to a method for recovering and utilizing dewatered sludge from smelting reduction ironmaking process. A method for recovering sludge from smelting ironmaking comprises the following steps: firstly, dewatering ironmaking sludge to obtain a water content of 10-25%; secondly, mixing the sludge, a binder, minus sieve powder of iron ore or pellet ore, or a mixture of the two types of minus sieve powder according to the following weight percents, that is, 30-55% of the sludge, 10-15% of the binder, and 30-60% of the minus sieve powder of iron ore or pellet ore, or a mixture of the two types of minus sieve powder; during mixing, additionally adding 1-15% of water to maintain the water content of the mixed materials to be 10-18%; thirdly, pressing and molding the well mixed materials by a press; fourthly, curing the mixed materials after molding; fifthly, briquetting the cured mixed materials, feeding the briquetted mixed materials with coal, coke, and flux into a smelting gasifier through a screw feeder. The invention realizes the recovery and utilization of sludge from smelting ironmaking, reduces molten iron cost, and reduces environment pollution.