A sulfur transfer agent production fine-powder and wastewater recycling method is disclosed. The method comprises the following steps: adding a sulfur transfer agent fine-powder used as an auxiliary sedimentation agent into a sulfur transfer agent production wastewater, and controlling pH value of the wastewater to 2-6; carrying out solid-liquid separation treatment on the wastewater twice, sending a secondary clear liquid obtained into a carrier impregnating tank for recycling, and levigating a heavy phase and/or sediment obtained, and sending the levigated heavy phase and/or sediment into an auxiliary agent gel-forming kettle in the sulfur transfer agent production process for recycling. According to the invention, auxiliary agent fine-powder and rare earth element and solid particles which are dissolved in wastewater are reused. Thus, resources are recovered, and environmental pollution is reduced.