The invention provides a recycling process of polyester waste and belongs to the technical field of recycling raw materials, waste or solvents in the manufacturing process of artificial filaments or similar substances. The polyester waste is collected and crushed through heat, first dehydration/degassing and de-volatile are completed in the crushing process; the crushed materials are transferred to a feeding bin for self-pressing feeding and then transferred to a compaction mechanism for diversion compression compacting, secondary dehydration/degassing and de-volatile are completed in the compression compacting process, then the materials are transferred in a melting screw for limited sectional melting, vacuum drawing is performed in the melting process, the obtained melt is sent to a homogenization tackifying reactor after first filtering and meanwhile subjected to vacuum drawing and EG recycling, and after homogenization tackifying is completed, the melt can be used. The process is applied to recycling of waste silk and other polyester waste, has the characteristics of zero pollution and zero emission, and obtained products can be applied to filaments, staple fibers, sheet materials and other fields.