The invention relates to a recycled flue gas desulfurization and denitration method, which sequentially comprises the following steps of: introducing flue gas of SO2 and NOx into a desulfurizing tower, and absorbing the SO2 with a desulfurizing agent (barren liquor) in the desulfurizing tower; desorbing the desulfurizing agent (rich liquor) which absorbs the SO2 through a multi-effect evaporator,releasing the SO2 gas, and concentrating the SO2 gas into liquid SO2 through condensation drying; making the desulfurized flue gas enter a denitration tower, injecting gaseous ozone from an ozone generator, oxidizing the NO in the flue gas, absorbing the oxidized NO by using a denitrifier to form nitrate; crystallizing and separating out the nitrate in the solution after the nitrate reaches certain concentration, and filtering and drying to obtain the nitrate product. The method turns the wastes into wealth, and the SO2 and NOx in the flue gas are recycled by higher-additional value liquid SO2 and nitrate products, so that the recycling and value maximization in the desulfurization and denitration process is realized. Due to the adoption of the technical scheme, the high desulfurization and denitration rate can be achieved, the desulfurization rate is over 96 percent, the denitration rate is more than 90 percent, and the purity of the nitrate product is over 96 percent. The method hasthe advantages of simple desulfurization and denitration process, low investment, and low operation cost for desulfurization and denitration, and solves the problems that the conventional desulfurization and denitration process has high cost, generates a side product of a mixture of sulfuric acid (sulfate) and nitric acid (nitrate), and has low additional value.