The invention relates to a method for recycling valuable metals from precious smelting slag, which is characterized in that the recycling process comprises the following steps: (1) adding the smelting slag to a sodium hydroxide solution for alkaline leaching; (2) using sulfuric acid as a leaching agent and hydrogen peroxide as an oxidant to performing acid leaching on the alkaline leaching slag; (3) heating the acid leaching liquor, adding the alkaline leaching liquor obtained in step (1) into the acid leaching liquor, stopping adding until the pH is 5.0, and filtering to obtain filter residue and a filtrate of a neutralizing liquor; (4) heating the neutralizing liquor, adding sodium hydroxide to enable the pH of the neutralizing liquor to reach 9, hydrolyzing nickel and copper in the neutralizing liquor to be hydroxide, filtering, and separating to obtain nickel copper hydroxide slag. According to the invention, the all wet process is adopted, the reagents are cheap, the operating method is simple, the nickel and copper recovery rate is high, wastewater, waste residue and waste gas are not discharged during the recycling process, and the process method is simple, economical and practical.