An electric peaking combined heat and power waste heat recovery device, characterized in that, the device comprises an inner power plant portion and a heat exchange station portion, wherein the inner power plant portion mainly comprises a heat exchanger, a waste heat recovery electric heat pump, an energy-storing electric heat pump, a high temperature water storing tank, a low temperature water storing tank, a heating network heater, valves and circulating water pumps; wherein an inlet of the heat exchanger is connected to a primary network backwater pipe, and an outlet of the heat exchanger is connected to inlets of the valve, the valve and the circulating water pump in parallel, respectively; an inlet of the waste heat recovery electric heat pump is connected to an outlet of the valve, and an outlet of the waste heat recovery electric heat pump is connected to an inlet of the heating network heater; a top inlet/outlet of the high temperature water storing tank is connected to an outlet of the valve and an inlet of the valve in parallel, respectively, an inlet of the valve is connected to an outlet of a condenser of the energy-storing electric heat pump and an outlet of the valve is connected to the inlet of the heating network heater; a bottom inlet/outlet of the high temperature water storing tank is connected to an outlet of the valve and an inlet of the circulating water pump in parallel, respectively, an inlet of the valve is connected to an outlet of the circulating water pump, and an outlet of the circulating water pump is connected to an inlet of the condenser of the energy-storing electric heat pump via the valve; a top inlet/outlet of the low temperature water storing tank is connected to an outlet of the valve and an inlet of the valve in parallel, respectively, and an outlet of the valve is connected to an inlet of an evaporator of the energy-storing electric heat pump; a bottom inlet/outlet of the low temperature water storing tank is connected to an outlet of the valve and an inlet of the circulating water pump in parallel, respectively, an inlet of the valve is connected to an outlet of the evaporator of the energy-storing electric heat pump via the circulating water pump, and an outlet of the circulating water pump is connected to the inlet of the heat exchanger in parallel via the valve; wherein the heat exchange station portion mainly comprises a high temperature water storing tank, a low temperature water storing tank, an electric heat pump, a heat exchanger, valves and a circulating water pump; wherein a top inlet/outlet of the high temperature water storing tank is connected to an outlet of a valve and an inlet of the circulating water pump in parallel, respectively, an inlet of the valve is connected to an outlet of the heating network heater via a primary network water supply pipe, an outlet of the circulating water pump connected to the primary network water supply pipe in parallel via the valve is connected to an inlet of the valve, and an outlet of the valve is connected to an inlet of a primary network of the heat exchanger; a bottom inlet/outlet of the high temperature water storing tank is connected to an outlet of the valve and an inlet of the valve in parallel, respectively, an inlet of the valve is connected to an outlet of the primary network of the heat exchanger, and an outlet of the valve is connected to an inlet of an evaporator of the electric heat pump; a top inlet/outlet of the low temperature water storing tank is also connected to the outlet of the valve and the inlet of the valve in parallel, respectively, a bottom inlet/outlet of the low temperature water storing tank is connected to an outlet of the valve and an inlet of the valve in parallel, respectively, and an outlet of the valve is connected to the primary network backwater pipe; an outlet of the evaporator of the electric heat pump is connected to an inlet of the circulating water pump and the primary network backwater pipe in parallel via the valve, respectively, and an outlet of the circulating water pump is connected to an inlet of the valve; a secondary network backwater pipe is connected to inlets of the valve and the valve in parallel, respectively, an outlet of the valve is connected to an inlet of the secondary network of the heat exchanger, both outlets of the valve and the secondary network of the heat exchanger are connected to inlets of the valve and the valve in parallel, respectively, an outlet of the valve is connected to a secondary network water supply pipe, an outlet of the valve is connected to an inlet of a condenser of the electric heat pump, and an outlet of the condenser of the electric heat pump is connected to the secondary network water supply pipe.