The invention provides a waste heat utilization system for the cooling wall of a blast furnace. The waste heat utilization system comprises a blast furnace body and an evaporating cooling tower. The evaporating cooling tower is connected with an absorption type heat pump through a cooling wall circulating pipe in parallel. The evaporating cooling tower and the absorption type heat pump which are connected in parallel are connected with a cooling wall circulating pump and the blast furnace body in series through the cooling wall circulating pipe. A first valve and a second valve are installed at the front end and the rear end of the evaporating cooling tower respectively. A fifth valve and a sixth valve are installed at the front end and the rear end of the absorption type heat pump respectively. The system is simple in structure, installation and operation are convenient, the absorption type heat pump is used for recycling waste heat of low-temperature water in a blast furnace cooling wall circulating system, high-temperature water is made to be supplied to a user for heating and other use, heat of the blast furnace cooling wall circulating system is fully utilized, and energy is saved.