The invention discloses a radiating heating furnace with an annular flue. The radiating heating furnace comprises a furnace body, an air supply channel with an air inlet is arranged on the upper portion of the furnace body, a plurality of primary air inlet holes are formed in the bottom of the air supply channel, a plurality of secondary air inlet holes are formed in the inner wall of the air supply channel, a primary air inlet channel is formed between the outer wall of a hearth and the inner wall of the furnace body, the primary air inlet holes are communicated with the bottom of the hearth through the primary air inlet channel, the secondary air inlet holes are directly communicated with the hearth, the annular flue is arranged on the upper portion of the air supply channel, the flue is communicated with the hearth through a smoke inlet, a plurality of thermoelectricity modules generating electricity through temperature difference are arranged between the flue and the air supply channel, and an air blower powered by the thermoelectricity modules is arranged on the air inlet. The radiating heating furnace with the annular flue has the good combustion and heating effects in high-altitude regions, and is suitable for being used in the high-altitude regions. According to the radiating heating furnace with the annular flue, when smoke passes through the secondary air inlet holes, unburned smoke is combusted again, the hearth and smoke temperature rises, the radiating efficiency of the annular flue is improved, the heating efficiency is high, and the using and maintenance cost is low.