The invention discloses an improved waste lubricating oil regenerating and processing device, comprising an evaporator which is provided with a closed heating interlayer and has a closed shell body of a combined revolving body, a rectification tower is arranged on a connecting port thereof, a central rotating shaft equipped with a scraper and an injector is disposed in the evaporator, an oil guide pipe is communicated with the injector, the central line of a spray head of the injector is vertical to the vertical face of a support, a flow guide device rising continuously and spirally from bottom to top is arranged in the heating interlayer evenly along the wall of an inner liner, two heaters are disposed in a heating boiler, an oil outlet of an oil pump is connected with a primary heater by a pipeline, an oil outlet of the primary heater is connected with an oil inlet of the heating interlayer, an oil outlet at the upper part thereof is connected with an oil inlet of the secondary heater by a pipeline, and an oil outlet of the secondary heater is connected with the oil guide pipe of the evaporator. The device can supply heat to a waste lubricating oil film in the evaporator to realize the constant temperature, and has advantages of large heat radiating area, uniform heat supply, preventing the waste lubricating oil from cracking, simple and reasonable structure, reliable performance, low power consumption, fuel saving, having no need of high temperature-resistant oil pump when in conveying, economy and practicality.