The invention discloses a device and a method for recycling nitrogen of an annealing furnace. The device comprises a heat preservation foundation, a pre-release nitrogen annealing furnace, a first air pump, a condensation tank, a sealing plate, an oil drainage bolt, an oil filter screen, an air source filter, a pressure measuring probe, a second air pump, a temperature control tank, a first inductance coil, a second inductance coil, a third inductance coil, a fourth inductance coil, a first temperature measuring probe, a second temperature measuring probe, a third temperature measuring probe, a fourth temperature measuring probe, a third air pump, an electromagnetic reversing valve, a nitrogen storage tank, a nitrogen generator, a first servo valve, a second servo valve, a third servo valve, a fourth servo valve, a fifth servo valve, a pre-introduced nitrogen annealing furnace and a ventilation pipeline; waste gas in the pre-released nitrogen annealing furnace passes through the condensation tank and the temperature control tank to sequentially achieve purification and precise temperature control of nitrogen in the working process, finally, the nitrogen is directly introduced into the pre-introduced nitrogen annealing furnace, so that a set of complete industrial process is efficiently and orderly realized, and the purpose of recycling the nitrogen of the annealing furnace is fulfilled.