The invention relates to the field of comprehensive resource utilization, and in particular to a method for treating blast furnace fume and recycling iron and zinc. The method comprises the following steps: (a) mixing blast furnace fume with water, pulping, dissolving the electrolyte in the blast furnace fume, subsequently filtering to obtain filtrate, adding water into the filtrate to pulp, and performing ultrasonic dispersion to obtain dispersed ore pulp; (b) performing flotation separation on the dispersed ore pulp to desorb carbon in the blast furnace fume; (c) magnetizing magnetite powder, adding the magnetite powder into the dispersed ore pulp after the floatation separation decarburization, adding a selective flocculant for selective magnetization and flocculation so as to selectively agglomerate hematite and magnetite in the blast furnace fume, and performing magnetic separation to obtain iron ore concentrate and magnetic tailings; (d) adding a selective inhibitor into the magnetic tailings to inhibit iron-bearing minerals, performing surface modification on the zinc oxide minerals, and subsequently performing selective flotation separation to obtain zinc concentrate. The method for treating blast furnace fume and recycling iron and zinc is convenient to operate and is capable of efficiently recycling valuable elements such as iron and zinc, and comprehensive resource utilization of blast furnace dust is achieved.