To address the problem of low efficiency of recycling process waste by gas–solid two-phase flow of the shot blasting machine recycling device, a method and structure by increasing the negative pressure value and optimizing the outlet pipe position are proposed. Computational fluid dynamics (CFD), discrete element method (DEM) and discrete phase model (DPM) were used to study the waste recovery efficiency at different pressure outlet conditions and outlet pipe locations. The validity of the model was verified by velocity tests at the outlet and inlet compared with simulations. The effect of particle size and particle generation rate on solid particle recovery efficiency was further investigated by analyzing the flow field distribution of the recovery unit. The results show that the maximum velocity of the gas phase in the recovery device increases with the increase of the absolute value of the outlet pressure, when the outlet pressure is -6500 Pa, the maximum velocity is 67.59 m/s. When the absolute value of the outlet pressure is greater than 6000 Pa, a small amount of steel shot particles is discharged from the recovery bin under the action of the outlet pressure, resulting in the loss of steel shot particles. After the outlet pipe position optimization, the steel shot particle recovery efficiency increased by 10% and the waste particle recovery efficiency increased by 18.9%.