The invention discloses a circulating water and sewage treatment and reuse system and method, and belongs to the technical field of circulating water treatment. The system comprises an adjusting tank, a water inlet pump, an electrochemical descaling reactor, a cyclone separator, an intermediate adjusting tank, an electrochemical desalting reactor, a sludge discharge pump and a sludge dewatering machine. Through electrochemical reaction, hardness ions such as calcium and magnesium in wastewater are removed, the ions are recycled in the form of precipitates such as calcium carbonate and magnesium hydroxide; furthermore, through an electrochemical adsorption process, salt in the water is removed, and fresh water which can be reused in links such as circulating water replenishing is obtained. Compared with a traditional circulating water and blow-down water treatment method, wastewater is treated through electrochemical reaction, no chemical agent is added, no secondary pollution is caused, the requirement for inlet water quality is low, and the problems of membrane pollution and the like do not exist; resources such as calcium and magnesium can be recovered while the wastewater is recycled, so that the method has a good application prospect.