The invention discloses a microetching waste liquor regeneration and recovery system. The system comprises an etching tank and a waste liquor storage tank communicated with the etching tank, the waste liquor storage tank is connected with a central two-stage system which is communicated with a regeneration liquor adjusting tank, the regeneration liquor adjusting tank is connected with a regeneration liquor storage tank which is communicated with the etching tank, water pumps are arranged between the etching tank and the waste liquor storage tank, between the waste liquor storage tank and the central two-stage system, between the central two-stage system and the regeneration liquor adjusting tank, between the regeneration liquor adjusting tank and the waste liquor storage tank as well as between the waste liquor storage tank and the etching tank and are simultaneously connected with a PLC (programmable logic controller) control system, and the etching tank, the central two-stage system and the regeneration liquor adjusting tank are simultaneously connected with the PLC control system. The recovery system is simple in principle, brings direct economic benefit and is high in copper recovery efficiency, reutilization of microetching liquor is achieved, cost is saved, cylinder changing time of a production line is shortened, production efficiency is improved, environmental protection pressure of factories is relieved, and social image of enterprises is improved.