The invention discloses a waterproof recycled paper and a production method thereof. The waterproof recycled paper is prepared through pulping by taking waste paper and papermaking plant fiber raw materials as raw materials, mixing pulps through adding waterproof additives such as lipid, resin, starch, pectin, soda pulp, sulfite pulp, sulfate pulp, polyacrylonitrile, marble powder, a water-soluble high-molecular polymer and sodium hydroxide after the pulping process of a papermaking stage, and then, combining a paper production process. The texture of the waterproof recycled paper produced by using the method disclosed by the invention is not changed; and the waterproof recycled paper has the characteristics that the inside and outside of the paper are waterproof, the surface of the paper can be written or printed, and the paper is colorless, nontoxic and tasteless; the paper can be additionally dyed to be any color, but the waterproof function of the paper is not affected; and the paper can be used as packaging paper, writing paper, paper protective clothing, a paper bag and the like, and can be recycled so as to be an environment-friendly material.