A washing machine with a circulated water treatment function and a control method therefor. The washing machine comprises a water holding barrel (2), a washing structure arranged inside the water holding barrel (2) and a circulated water treatment device arranged under the water holding barrel (2), wherein the circulated water treatment device comprises a flocculation treatment unit and a filtering unit, the flocculation treatment unit comprises a flocculation container (10) connected to the water holding barrel (2) and a flocculation agent dosing device (11) for dosing a flocculation agent into the flocculation container (10), and water is discharged from the water holding barrel (2) to the flocculation container (10) for flocculation treatment; and the filtering unit comprises a filtering container (12) and a filter net (13) arranged inside the filtering container (12), the filtering container (12) is in communication with the flocculation container (10) and the water holding barrel (2), respectively, for filtering the water having been flocculation-treated in the flocculation container (10) and discharging same again into the water holding barrel (2) for reuse. The washing machine circularly treats water by flocculation and filtration till the end of washing, in which the water is discharged into the circulated water treatment device for purification in the flocculation treatment unit and the filtering unit and finally discharged outside. The washing machine has the advantages of saving water resources, reducing water pollution and protecting the environment.