The invention discloses a waste paperboard cutting and compressing device which comprises a material bin, a compressing device, a cutting device and a push-out device. The compressing device comprisesa press plate arranged above the material bin and a compression drive device connected to the upper portion of the press plate. The cutting device comprises cutting knives and cutting drive devices connected to the upper portions of the cutting knives. Vertical through holes are formed in the press plate, and the cutting knives penetrate the through holes. The push-out device comprises a push plate vertically arranged on the rear side face of the material bin and a push plate drive device connected with the push plate. A bin door is arranged on the front side of the material bin, and a feeding opening is arranged on the upper portion of the bin door. According to the waste paperboard cutting and compressing device, leftovers of paperboards large in occupied area are packaged after being compressed, the occupied area is saved, and the paperboards are conveyed to raw material paperboard processing manufacturers to continue to be cyclically utilized after being recycled; and the compressing device of the waste paperboard cutting and compressing device achieves compact compression, the compression ratio is high, and the manual labor cost is greatly reduced.