The invention discloses a method and a device of electrochemical descaling, corrosion inhibition, sterilization and algae removal for cooling circulating water, which belong to the field of water treatment and energy saving and emission reduction. A group or multiple groups of cathode plates (11) and anode plates (12) are arranged in an electrochemical reaction chamber (8) of the device. When direct current is loaded, interfaces of the cathode plates and the anode plates are in electrochemical reaction, calcium ions, magnesium ions, ferrous ions, other metal ions, silicate, phosphate and the like in water are settled to form loose needle-like grained stone type mineral crystals. Reactive oxygen, free hydroxyls, ozone and the like are generated at the anode plates (12) to inactivate algae in water, and treated water mixed with the circulating water can keep certain inactivating and restraining functions on algae and bacteria. The device is provided with a residue hopper (15), and when polarities of the anode and the cathode are exchanged, limescale is removed, sinks down to the residue hopper (15) and discharged through a residue discharging pipe (13). When the device is mounted on a circulating water bypass, a compact iron oxide film layer is formed on the tube wall and device wall of a circulating system, so that corrosion is hindered.