The invention relates to a new method for old road reconstruction by recycling waste materials. The method comprises the processes of: first, treating an old road surface, and in the event of a cement road surface, using equipment to dig out a concrete base layer and breaking it for stand-by use, conducting an indoor test to obtain an optimal mix proportion, according to designed strength, compactness, the optimal mix proportion of test and an optimal moisture content, subjecting LF-S1 and LF-S2 soil solidifying agents, cement and water to smashing stirring till the compactness by recycling equipment, before the last three times of rolling compaction, laying two centimeters of gravel, then performing rolling compaction for three times or paving an asphalt wearing layer, using water to dilute a soil solidification solution in a ratio of 1:200 and carrying out maintenance with the obtained solution, and then paving a colored asphalt surface layer or colored gravel, with old road bed soil, the cement, the liquid soil solidifying agent (L1f-S2) and the powder soil solidifying agent (LF-S3) being in a proportion of, for per cube of compaction: 90-93%:5-8%:0.7kg:5-7%kg. Old road reconstruction by the method provided in the invention can have greatly reduced cost and reduced waste, thus the method is environment-friendly.