The invention discloses a low-grade heat-driven adsorption type refrigeration and heat pump circulating device adopting chemical reaction and a method utilizing the same. The device comprises a refrigerant circulation loop, an adsorption loop, an analysis loop and an operating fluid circulation loop. The high-temperature high-pressure gaseous refrigerant ammonia gas and carbon dioxide analyzed byadsorbers enter a chemical reaction cooler to be absorbed by an operating fluid to generate ammonium carbamate, the heat is output, and the product is dissolved in the operating fluid; the mixed solution passes through a heat regenerator, a throttling device and enters a chemical reaction evaporator; the ammonium carbamate is decomposed to generate the ammonia gas and the carbon dioxide, the ammonia gas and the carbon dioxide are evaporated, the cold energy is output, the ammonia gas and the carbon dioxide are adsorbed and analyzed by the adsorbers to form a circulation, and the two adsorbersalternately adsorb and analyze through opening or closing a valve to realize continuous output of cold energy or heat energy. According to the device and the method, the reversible chemical reactionis used for realizing the refrigeration and heating, compared with phase-change refrigeration and heating, the device and the method is higher in performance coefficient, capable of realizing efficient utilization of low-grade heat energy and has no damage to the environment.