The invention relates to a process and a device for recovering and treating wastewater generated by preparing sebacic acid with castor oil. The process comprises the steps of a, adjusting the pH value, b, purifying a fatty acid, c, carrying out evaporative crystallization, d, carrying out solid-liquid separation of anhydrous sodium sulfate, e, purifying secondary steam by removing phenol, f, compressing the secondary steam, and g, repeating the steps c-f, and collecting a sodium phenate solution, condensate water and the separated solid obtained in the step d. The invention also relates to a device for recovering and treating wastewater generated by preparing sebacic acid with castor oil; the device comprises a pH regulating reservoir, a fatty acid purifier, a waste material delivery pump, a mechanical steam recompression/evaporative crystallization system, a dryer and the like. The recovery process is simple to operate and low in cost, and also capable of realizing zero emission of contaminants, and environment-friendly and energy-saving, and in the meantime, the recovery device is simple and easy to operate.