The invention relates to a recycling and regenerating process for waste textile containing polyester and belongs to the technical field of polyester waste. The collected waste is smashed, rinsed, filtered, dried and metered so that finished products can be formed. The waste is dried after being smashed, rinsed and filtered, the waste is metered and conveyed into an alcoholysis kettle to complete alcoholysis and then is conveyed into a BHET middle kettle to react, then the waste is conveyed into a polycondensation kettle to complete polycondensation, and the finished products are formed through final polycondensation; and according to the alcoholysis process, the temperature of mother liquid ranges from 210 DEG C to 250 DEG C, and the reaction time ranges from 30 min to 5 h; the whole processing process is divided into four-stage filtering, the first-time filtering is completed after alcoholysis, the second-time filtering is completed after the reaction of the BHET middle kettle, the third-time filtering is completed after polycondensation, and the fourth-time filtering is completed after the final polycondensation, filter elements for four-stage filtering are 10-50 microns, and the filtering precision is sequentially improved from the first-time filtering to the fourth-time filtering. The recycling and regenerating process for the waste textile containing polyester is applied to waste silk and other polyester products and has the beneficial effects of being low in cost, short in process, high in quality, free of pollution and the like.