In this paper, we present the PS^2-Net - a locally and globally aware deep learning framework for semantic segmentation on 3D scene-level point clouds. In order to deeply incorporate local structures and global context to support 3D scene segmentation, our network is built on four repeatedly stacked encoders, where each encoder has two basic components: EdgeConv that captures local structures and NetVLAD that models global context. Different from existing start-of-the-art methods for point-based scene semantic segmentation that either violate or do not achieve permutation invariance, our PS2-Net is designed to be permutation invariant which is an essential property of any deep network used to process unordered point clouds. We further provide theoretical proof to guarantee the permutation invariance property of our network. We perform extensive experiments on two large-scale 3D indoor scene datasets and demonstrate that our PS2-Net is able to achieve state-of-the-art performances as compared to existing approaches.