The invention discloses a setting machine with an exhaust gas waste heat recovery function. The setting machine is characterized by comprising a machine body, a heat cycle box, a heating furnace, a burner and an exhaust mechanism; the exhaust mechanism is in communication with the heat cycle box and the machine body, an air supply pipe is connected between the heat cycle box and the heating furnace, an outlet of the burner is in communication with the heating furnace, a drying chamber is arranged inside the machine body, a three-way flow guide valve is arranged at the lower part of the left side of the drying chamber, the right side of the heating furnace is connected with a variable-diameter connecting pipe through a flange, and the variable-diameter connecting pipe is connected with thethree-way flow guide valve through a flange. The setting machine is reasonable in design, the exhaust gas discharge rate can be effectively controlled, heat exchange with fresh air in the heat cycle box is better carried out, and the heat of exhaust gas is fully recovered.