The invention discloses a production line for processing waste rubber and an old tire into rubber powder and a technology thereof, which creatively applies new technologies such as low temperature liquid nitrogen copious cooling waste rubber and old tire freezing crushing method, a hammering low temperature liquid nitrogen copious cooling waste rubber and old tire coarse powder crushing method, a large-scale stone mill roller wheel low temperature rubber medium powder crushing method, a low temperature rubber fine powder crushing method, a rubber fine powder sieve and the like for processing the waste rubber and the old tire into 'rubber powder material' which can be recycled and is used for replacing 'rubber raw material'. The invention changes the unreasonable situation that the existing waste rubber and an old tire device has low processing treatment capacity, high energy consumption, low efficiency, backward technique, certain environmental pollution and low economic benefit of China. The invention provides the production line which is used for processing the waste rubber and the old tire, is the biggest one in the world at present and produces ten thousands of rubber powder material every year, as well as new equipment and new technology that have the advanced technology level at home and abroad and has the advantages of large scale, continuous performance, high efficiency, energy conservation, environmental protection and low cost.