The invention relates to a method to recycle saturated steam from waste heat boiler in steel plant to generate. The method is characterized in that the invention comprises a converter, a converter heat recovery boiler, a steam filtering pressure stabilizer, a saturated steam heating furnace, a heating furnace burner, a low pressure turbine, a motor, a condenser, a condensate pump, a cooling tower, a circulating water pump, a deaerator, a water supply pump, a water supply distributor, a blower, an induced draft fan and a chimney. The invention has the advantages of making full use of the current waste heat boiler of the steel plant, adopting the steam filtering pressure stabilizer and the saturated steam heating furnace, improving efficiency by 140 percent compared with the traditional small-sized medium temperature and medium pressure unit and efficiency being 20 percent up higher than that of the most efficient gas turbine in the world.