The invention provides a method of recycling molybdenum and rhenium from molybdenum concentrate by hydrometallurgy. The method comprises the following steps: I, mixing molybdenum concentrate powder with deionized water to prepare ore pulp; II, carrying out pressurizing oxidization treatment onto the ore pulp; III, filtering to obtain a filter cake and filtrate; and IV, respectively treating the filter cake and the filtrate: drying the filter cake to obtain industrial molybdenum oxide; carrying out precipitation and impurity removal, active carbon adsorption and solid-liquid separation treatment onto the filtrate in sequence, crystallizing the filtrate treated by solid-liquid separation to obtain ammonium molybdate, and desorbing and crystallizing rhenium on the active carbon treated by the solid-liquid separation to obtain ammonium perrhenate. The method disclosed by the invention is simple in process, strong in repeatability, high in recovery rate of the molybdenum and the rhenium and suitable for large-scale industrial production.