In view of the present situation that the recovery of waste thermosetting plastics and products is difficult and the utilization rate is low, regeneration mechanism, regeneration methods and recycling process of waste thermosetting plastics under mechanical thermal coupling fields are proposed. Regeneration powders of Thermosetting Phenolic plastic are obtained by mechanochemical activated regeneration methods, the molecular structure, properties and crosslink density of phenol regeneration materials are analyzed. Analysis results show that network crosslinked molecular structure was destroyed, reactive groups produced and the crosslink density decreased. The activity of regeneration powders was reinforced and its plasticity was also improving, so the utilization rate was improved. Regeneration composite plastics were manufactured by hot press molding or extrusion compression molding. The microstructure of regeneration composite plastics was analyzed, and its mechanical strength was tested. Results showed that the tensile strength and bending strength of samples (weight ratio a parts per thousand yen 50%) respectively exceed 15.88 MPa and 33.49 MPa. At last process parameters for regeneration effects were discussed, and these parameters were optimized. When particle size was 80 mesh (size a parts per thousand currency sign 0.18 mm), quality proportion was 50 similar to 70%, pressure was 10Mpa, heating temperature was 180 similar to 190A degrees C, the optimal effects for regenerated composite were achieved.