The invention relates to papermaking method and device, in particular relates to waste paper regeneration environmental protection device and method. The waste paper regeneration device is provided with a hydraulic pulper, a first stock tank, a first desander, an inclined sieve, a second stock tank, a pulping machine, a third stock tank, a header box, a fourth stock tank, a second desander, a pressure sieve, a paper machine, a boiler, a reaction tank and a wastewater filter tank. By adopting the waste paper regeneration method and device, a closed production and water circulation mode is formed. Compared with the prior art, the invention has reasonably configured device system composition, higher degree of automation, convenient operation and higher pulping efficiency, can recycle afterheat and wastewater after being processed into purified water, realizes the energy-saving and environmental-protection effect, obviously improves the product quality through detection and can regularly clean sludge and coal ash in the wastewater filter tank to be used as field fertilizers, thereby changing waste into valuable without pollutant emission.