The invention relates to the field of vaporization cooling systems, in particular to a walking heating furnace vaporization cooling system and a method thereof. A vaporization cooling system for a walking heating furnace of the present invention comprises a soft water tank, a deaerator, a feed water pump and a circulation cooling system composed of a steam drum, a downcomer, an upcomer and a circulating pump, which are sequentially connected by pipelines, and it also includes A waste heat recovery system consisting of the first steam pipeline, the second steam pipeline, the hot water pipeline, and the heat exchanger; the steam and water outlet of the steam drum is connected to the deaerator through the first steam pipeline, and connected to the factory area through the second steam pipeline. The steam pipe network is connected, the other is connected to the heat medium inlet of the heat exchanger through the hot water pipe, the cold water inlet of the heat exchanger is connected to the supply soft water, the soft water outlet of the heat exchanger is connected to the soft water tank, and the heat medium outlet of the heat exchanger The sewage is discharged outward through the expansion vessel; the invention reduces the flow resistance by optimizing the layout of the pipeline and improves the recovery and utilization rate of the waste heat by adding a waste heat recovery system.