The invention discloses a thermal oil furnace for biomass and electricity. The thermal oil furnace comprises a heat preservation shell body, a splitting chamber on one side of the heat preservation shell body, a feeding port above the splitting chamber, a fire grate below the splitting chamber, an ash deposition chamber below the fire grate, an ash discharge opening in the bottom of the ash deposition chamber, a fan connected with the splitting chamber and a three-way valve connected with the fan. The thermal oil furnace further comprises a combustion chamber on the other side of the heat preservation shell body, a secondary air tube connected with the fan and the combustion chamber, an air inlet connected with the splitting chamber and the combustion chamber, a thermal transfer chamber above the combustion chamber, an oil inlet tube, an oil outlet tube and an explosion-proof valve above the thermal transfer chamber, and the oil inlet tube and the oil outlet tube are connected with the thermal transfer chamber. Through the mode, the biomass fuel and the electricity can be adopted as energy, the use range is widened, environmental pollution is reduced, and zero release is basically achieved.