The invention relates to a novel recycling treatment method of emulsified liquid, which comprises the following steps of: removing an oil phase through oil-water separation, conducting filtering to remove large-particle metal impurities and suspended matter, carrying out chemical treatment to obtain filtrate, carrying out evaporation treatment on the filtrate, carrying out multi-stage sewage biochemical treatment on condensed water obtained by evaporation, and conducting discharging or recycling after reaching the standard. A filter cake and a kettle bottom substance generated in the treatment process are subjected to incineration landfill or cement kiln cooperative treatment, so that the recycling treatment method of the emulsified liquid can realize maximum treatment of the emulsified liquid waste, and through step-by-step and segmented removal and treatment, the treatment pertinence is strong, and the treated emulsified liquid waste can reach the international emission standard. The method is simple and convenient in operation process, high in safety and capable of realizing industrial production.