The invention relates to an apparatus and process for preparing high-molecular-weight polyester by ring-opening polymerization of a cyclic ester; the process comprises the steps of feeding raw cyclic ester (L101) into a preheating kettle, and melting to form first liquid (L102); dissolving a catalyst and a photoinitiator in a solvent to form second liquid (L103); adding both the first liquid (L102) and the second liquid (103) into static mixer (2), and mixing well to form third liquid (L104); feeding the third liquid to atomizing nozzle (6) at the top of a reaction boiling bed (3), atomizing, spraying into the reaction boiling bed (3), reacting under an inert carrier gas to obtain first solid (L105), feeding the first solid to solid tackifying boiling bed (4), performing tackifying reaction to obtain second solid (L106), feeding the second solid to a bag filter (5), and isolating to obtain the product, the high-molecular-weight polyester. Compared with the prior art, the apparatus and process can provide continuous production and high production efficiency, and the obtained product has high molecular weight and low yellow value.