The invention belongs to the field of coal chemical industry and provides a method for producing ethylene by utilizing pulverized coal. The method comprises the steps of (1) pyrolysis upgrading, (2) pressure swing adsorption and hydrogen extraction, (3) smelting production of calcium carbide, (4) CO conversion decarburization and hydrogen production, (5) acetylene generation, (6) acetylene hydrogenation reaction and (7) cryogenic separation so as to obtain the ethylene and other hydrocarbon products. According to the method, high-quality resources such as blocky coke, semi-coke and anthracite which are high in price are replaced with medium-low-order raw pulverized coal which is low in price, the medium-low-order raw pulverized coal serves as a raw material for producing the calcium carbide, the process energy consumption is low, high value-added tar and pyrolysis gas byproducts are obtained in the pyrolysis process, and the overall economy of the process is improved; a pyrolyzed solid product adopts a hot delivery process, the sensible heat is fully utilized, and the power consumption of a calcium carbide furnace is reduced; hydrogen obtained by the pressure swing adsorption of a pyrolysis gas product and hydrogen obtained by the tail gas conversion of the calcium carbide furnace are used for the acetylene hydrogenation reaction, another product of the calcium carbide furnace reacts with CO2 to generate nano calcium carbonate, and the environmental pollution is reduced.