The invention discloses a lead flotation method using beneficiation return water. The beneficiation method is characterized in that the high-pH-value beneficiation return water is used as supplementary water of lead flotation operation, lime and an inhibitor are not added during ore grinding operation, and by using a low-alkaline agent, a part of lead and a part of silver are not inhibited and float upwards preferentially; during flotation operation, the inhibitor is added to inhibit sulfur and zinc, and lead and silver which have difficulty in floating upward are collected by using a high-alkaline agent. The beneficiation method has the advantages of recycling the beneficiation return water, saving the beneficiation agent, improving the beneficiation recovery ratio and being efficient and clean and the like.