To provide a method and a device where, for regenerating metal cut waste including moisture, oil, iron or the like and recovering a homogeneous metal raw material having high packing density and high purity, the same is pulverized and its shape is made uniform, and simultaneously, while suppressing the oxidation of the metal cut waste, accompanying impurities are vaporized and thermally decomposed with a hot blast, and can be efficiently removed.

In the method where metal cut waste is pulverized by a pulverizer 11, and is thereafter classified, the metal cut waste is directly contacted with a combustion exhaust gas by a drier 13, and accompanying impurities such as moisture, oil or the like are vaporized and thermally decomposed, thereafter, iron powder is removed by a magnetic separator 14, and the same is regenerated as a metallic raw material. On the other hand, a dry exhaust gas is circulated to the drier 13 by a dry exhaust gas fan 16, and simultaneously, a part of the dry exhaust gas is passed through a combustion furnace 19, and is circulated to the drier 13 as a combustion exhaust gas, regarding the treatment in the drier 13, it is stably performed in a reducing atmosphere at a high speed, and, while suppressing the oxidation of the metallic raw material, the metallic raw material of high quality is efficiently regenerated.