The invention relates to a device and method for processing sodium p-toluenesulfonate waste liquor. The device comprises a direct current power supply, a membrane stack, a clamping device, a carbon fiber felt electrode, an electrode liquor storage tank, an acid chamber storage tank, a waste liquor chamber storage tank, an alkali chamber storage tank, a liquor adjuster, an alkali chamber valve block, a waste liquor chamber valve block, an acid chamber valve block, an electrode chamber valve block, an acid chamber filled with a cation exchange resin, a salt chamber, an alkali chamber filled with an anion exchange resin, an anion exchange membrane, a cation exchange membrane and a bipolar membrane. A PAN (polyacrylonitrile)-based carbon fiber felt electrode used in the device and method has the characteristics of low resistance, good electric conductivity, oxidation resistance and corrosion resistance. The salt chamber is filled with a cation and anion mixed resin, and the acid chamber and the alkali chamber are respectively filled with the cation exchange resin and the anion exchange resin, so as to further improve the conductance of an electrodialysis cell, reduce the polarization and energy consumption, and lighten the membrane pollution. The device and method can be used for processing the production waste liquor of high-concentration hardly-degradable pentaerythritol triacrylate, so as to obtain acid and / or alkali and realize recycling of the waste liquor.