The invention discloses a smoke and hot fluid waste heat recycling system, which comprises a waste heat boiler, a first ORC (Organic Rankine Cycle) subsystem, a third expansion machine and a third expansion machine driving apparatus, wherein the first ORC subsystem comprises a first evaporator, a first preheater, a first liquid pump, a first condenser, a first expansion machine and an expansion machine driving apparatus; the first expansion machine is connected with the expansion machine driving apparatus; smoke comprises reciprocating engine tail gas, combustion gas turbine tail gas and other industrial smoke; the smoke passes the waste heat boiler to product high-temperature and high-pressure steam; the steam passes at least one cascade-stage or single-stage screw expander to output electric energy or drive other rotary work-consuming apparatus; outlet smoke of the waste heat boiler or other low-temperature hot fluid passes a heat exchanger, the produced high-temperature hot water passes the first evaporator and the first preheater of the first ORC subsystem; and low-temperature hot water output by the first preheater is used as boiler replenishing water. According to the smoke and hot fluid waste heat recycling system, the waste heat of the smoke and the low-temperature hot fluid is used for generating electricity, and energy conservation and environment protection are realized.