Aimed at the problem of reusing and recycling of E-commerce packaging waste, two common recycling modes for packaging waste were summarized from the existing cases in real life: recycle mode for E-commerce logistics enterprise and for third party recyclers. Taking consumers’environmental awareness into consideration, two recovery models for recovery were constructed to find the corresponding solutions. The results showed that: there existed the optimal profit solutions for both of the two recovery models; the optimal profit of the recovery model depended on the amount of packaging waste recovery; the advantages and disadvantages of the two recovery models were determined by the recovery price by the E-commerce logistics enterprises offered to consumers, and the number of recycle bins installed by third party recyclers.