The invention provides a hydraulic lifting and upside-down construction method for an internal steel tube of a chimney. The hydraulic lifting and upside-down construction method includes the steps of S1, installing a computer control cabinet, hydraulic pump stations and hydraulic jacks on a steel platform; S2, manufacturing standard sections of the internal steel tube; S3, laying two rails on site and installing a transport trolley on the rails; S4, welding first lifting points and installing anchorage devices and steel stranded wires at the top of the first standard section; S5, lifting a first standard section to a proper height, and transporting a second standard section to an assembly position for assembly and welding; S6, sequentially installing subsequent standard sections, enabling the internal steel tube to descend to the ground when the internal steel tube is lifted to a specific height, and switching to a second lifting point; S7, sequentially installing subsequent standard sections till lifting the internal steel tube is completed. The hydraulic lifting and upside-down construction method has the advantages of high precision, safety, reliability and lower construction cost.