This invention provides a process for producing fine rubber powders by using waste rubber, comprising the steps of pre-pulverizing waste rubber into particles with a size of 1-4 mm; soaking the particles in a solvent selected from one or more alcohols and/or ethers; and pulverizing the soaked rubber particles into rubber powders with a size of less than 180 .mu.m. The process according to the invention is an ideal method in industry due to its low costs and without pollution.