Adding a bypass ventilation system is an effective way to solve the problem of cement product quality deterioration caused by the use of solid waste raw materials in cement kilns. However, traditional bypass ventilation systems suffer from the waste of waste heat resources. In order to improve the utilization rate of waste heat resources in cement kilns, process optimization was carried out on the basis of the traditional bypass ventilation waste heat utilization system. By replacing the mixed ambient cold air with mixed BP boiler exhaust, the vast majority of gas waste heat resources were recovered, increasing the power generation capacity of the waste heat power plant. Taking a 5 000t/d cement production line waste heat power generation project as an example, the economic feasibility of two process flows was compared and analyzed. The results show that adopting the optimized bypass ventilation waste heat boiler flue gas circulation system can increase economic benefits by 2.962 7 million yuan annually, reduce exhaust gas emissions by 42 750 Nm³/h, and achieve significant social and economic benefits.