In order to reduce corporate energy costs and minimize environmental pollution, optimizing the waste heat recovery system of ring cooling machines and enhancing the efficiency of waste heat utilization are critical for improving the overall performance of waste heat power generation systems. The article analyzes the working principles of new-type ring cooling machines and the core elements of their waste heat power generation technology, and explores specific methods to improve the quality of waste heat resources, including sealing form improvement, insulation structure optimization, adjustment of cooling area, and optimization of cooling air volume and flow velocity. Based on this, the article proposes a systematic approach to technological innovation and optimization, covering parameter optimization of subsystems such as the air intake system, circulating return air system, boiler equipment, steam turbine units, and auxiliary systems, as well as optimized design of the air intake hood structure and air distribution main duct. The optimized results show: the proportion of hot air recovery increased to above 60% , the air intake volume increased by 10%～20% , the average air intake temperature reached above 380 °C , the thermal efficiency of the waste heat boiler improved to 73% , the specific consumption of the steam turbine generator decreased by approximately 11% , the system's comprehensive thermal efficiency reached above 17% , and the power generation index per ton of sintered ore from the ring cooling machine can be increased to over 30 kWh/t .