The invention provides a method for separating and extracting platinum group metals. The method comprises the steps that the palladium concentration of feed liquid containing the platinum group metals is controlled to be 1.5-5.5g/L, the electric potential of the feed liquid is controlled to be 850-950mv, palladium is extracted by means of S201 organic phases, and palladium is extracted from the palladium-loaded organic phases through the following process. Ammonium chloride is added into palladium extraction raffinate to deposit platinum, obtained ammonium chloroplatinate is subjected to reduction and dissolution by being added with hydrazine dihydrochloride solution and is heated to 90-95 DEG C, and chlorine gas is introduced; after the obtained ammonium chloroplatinate is repeatedly subjected to the hydrazine dihydrochloride reduction process for 2-3 times, and high-purity platinum black can be obtained by reducing the ammonium chloroplatinate through the hydrazine dihydrochloride according to the mass ratio of 1:1. Compared with the prior art, the method has the advantages that the process is simple, the precious metal separation efficiency is high, generation of a larger amount of ammonia-contained waste gas is avoided in the process of reducing ammonium chloroplatinate through hydrazine hydrate, and no nitrogen oxide pollution is produced.