The invention provides a device and method for extracting phenol products from medium-low temperature coal tar. The device comprises extractors, a first distiller, a second distiller, a first extraction agent storage tank, a second extraction agent storage tank and a second extraction agent adjusting tank. The multiple extractors are connected in series, raffinate of at least the last extractor enters the second extraction agent adjusting tank to guarantee the usage quantity of second extraction agents in the first extractor, and extract phases of the last extractor enter the first extraction agent storage tank after being distilled. Extract phases of each extractor except the last extractor enter the next extractor, raffinate enters the second extraction agent storage tank after being distilled, and an outlet of the second extraction agent storage tank is connected with inlets of all the extractors except the first extractor. The extraction agents are used for repeated extraction, in this way, the content of neutral oil in impurities in the extract phases can be reduced, through three times of extraction, the relative purity of phenols can reach over 97%, and through five times of extraction, the relative purity of crude phenols can be higher.