A method and system for recycling and treating dyeing wastewater are provided. To begin with, the dyeing wastewater is added with an adsorbent for assisted decolorization and filtration. Then, the wastewater is filtered with a first filtration device having hydrophilic membranes. The liquid having passed through the hydrophilic membranes undergoes an RO membrane-base filtration process to produce recycled water and concentrated wastewater. The concentrated wastewater is delivered into a second filtration device having hydrophobic membranes, before a micro-bubbling process is performed on the concentrated wastewater in the second filtration device to turn the concentrated wastewater into a creamy-white nebulized working liquid of high gas content. The steam in the working liquid can readily pass through the hydrophobic membranes to produce an effluent that meets effluent standards.