The invention discloses a method of a two-stage hydrogenation treatment regeneration technology for full-fraction waste mineral oil. The method comprises the following steps: S1, a filtering treatmenttechnology unit; S2, a low-pressure hydrogenation reaction technology unit; S3, a high-pressure hydrogenation reaction/fractionation technology unit. According to the method disclosed by the invention, the waste mineral oil is not subjected to a pre-treatment process of traditional raw material separation technologies, such as water washing, flocculation, adsorption, extraction, decompression anddistillation (scraping membrane evaporation or molecular distillation), and a combined technology thereof and the like, and full fractions subjected to dehydration and filtering treatment are directly subjected to low-pressure hydrogenation treatment to remove colloid asphalt and impurities including heavy metal and non-metal chlorine, silicon, phosphorus and the like; then hydrogenation treatment including high-pressure hydrogenation refining, modification, aromatic removal and the like is carried out and fractional distillation is carried out to produce basic oil of high-grade III type lubricating oil. According to the method disclosed by the invention, the operation period of a high-pressure hydrogenation and fractionation device can be improved to 20 months or more; the yield of the basic oil of the lubricating oil of a full-fraction low-pressure hydrogenation technology can reach 85 to 95 percent.