The invention provides a high-temperature water slag flushing steam colored smoke plume treatment system and method, and the system comprises a granulation white smoke elimination tower, a slag flushing water inlet, a high-temperature slag inlet, a spraying device, a condenser, a second demister, a re-heater, an exhaust fan, a slag flushing pool, a water spraying unit and a heat taking unit, the slag flushing pool is connected with the tower wall at the bottom of the granulation white elimination tower through a slag ditch A, and the side wall at the top of the slag flushing pool is connectedwith the tower wall of the granulation white elimination tower through a steam return pipeline B; wherein a high-temperature slag runner of the heat removal unit is connected with a high-temperature slag inlet in the bottom of the granulation white elimination tower, the heat removal pipe bundle is arranged under the ground of the high-temperature slag runner, an inlet of the heat removal pipe bundle is connected with a heating medium water outlet of the re-heater, and an outlet of the heat removal pipe bundle is sequentially connected with a heating medium water pump and a heating medium water inlet of the re-heater. The blast furnace slag flushing steam can be deeply purified, the discharge amount of hydrogen sulfide, sulfur dioxide and other acid pollutants is reduced, slag flushing steam waste heat recycling is achieved, and the water consumption of a slag flushing system is greatly reduced.