The invention provides a system and a method for extracting microprotein from sludge through hydrolysis, relating to the field of sewage and sludge treatment. The system comprises a sludge storage device, a sludge conveying device, a mixing device, a hydrolysis reaction device, a flash distillation device, a solid-liquid separation device, a residue collecting and conveying device, a filtrate collecting device, a preheating device, an evaporation concentration device, a drying device, a waste gas collecting device, a waste gas treatment device, a waste gas discharge device and a process waterrecovery device. The extraction method comprises the following steps of: completely hydrolyzing activated sludge, flash distilling, cooling, carrying out solid-liquid separation, and concentrating the filtrate to obtain the microprotein solution product with the concentration of 5%-40% by mass percentage or drying to obtain a microprotein dry powder product. When used for extracting microprotein from sludge through hydrolysis, the invention has the advantages of low energy consumption, high production efficiency and high extraction ratio of microprotein, and the microprotein products have excellent performance and better foaming performance than foaming agents in market.