The invention relates to a reeling waste water deep treating method and an apparatus, the method comprises the following steps: A) the reeling waste water is passed through a grating well, then enters into an anaerobic pond, sawdust carbon is put into the anaerobic pond; B) effluent from the anaerobic pond enters into an aerobic contacting oxidation pond, the sawdust carbon is put into the anaerobic contacting oxidation pond; C) effluent from the anaerobic contacting oxidation pond enters into a sedimentation pond; naturally deposited activated sludge containing sawdust carbon is directly discharged or performed with backflow to the above anaerobic pond or/and aerobic contacting oxidation pond, a supernatant is lifted in the sedimentation pond to an anaerobic filter for treating; D) effluent from the anaerobic filter enters into a multifunctional biological active carbon tower; and E) effluent from the multifunctional biological active carbon tower enters into a clean water pond for recycling or directly discharging in a silk reeling workshop. The method and the apparatus have the advantages of low operation cost, high circular reuse rate, good water quality, simple operation management and the like, utilization rate of water resource can be increased, pollution of reeling waste water on environment can be mitigated, and the silkworm industry has a good and fast development.