The recovery and utilization of residual heat in sintering process is one of the major directions and methods in reducing the energy consumption of sintering process. Essentially， the process of residual-heats recovery and uti- lization is a process that energy is transformed and utilized， in the research of which the thermodynamic analysis is of great importance. The first and second laws of thermodynamics were applied to analyze the conservative quantity and matched quality of various residual-heat during the generation， recovery and utilization of residual-heat， and espe- cially to focus on the energy efficiency， exergy efficiency and exergy loss. The key factors to affect and restrict the recovery and utilization of residual heat were presented， and its solutions to its improvement were also proposed.