The invention discloses a waste and old tire colloidal particle cracking system and method. The system comprises a conveying device, a breaking device, a washing device, a drying device and a cracking furnace are sequentially connected to the conveying device, the cracking furnace is further connected with a molten salt furnace, the molten salt furnace is connected with the drying device through a transition salt pipe, the drying device is connected with the molten salt furnace through a salt returning pipe, the cracking furnace is further connected with a gas and slag separation device, the gas and slag separation device is connected with a carbon black tank and a steel wire recycling device through a magnetic separator, and the gas and slag separation device is further connected with a rectifying tower; a gas pipe is further communicated with the cracking furnace, the cracking furnace and the gas and slag separation device are arranged side by side, the conveying device penetrates the cracking furnace to stretch into the gas and slag separation device, a slag cavity is formed in the lower portion of the gas and slag separation device, the upper portion of the gas and slag separation device is communicated with a gas collecting pipe communicated with the rectifying tower, and the bottom of the slag cavity is communicated with the magnetic separator. The waste and old tire colloidal particle cracking system and method are high in tire colloidal particle cracking rate, high in cracking object recycling rate, capable of achieving continuous production and low in energy consumption.