The invention relates to a technology for consuming high nickel and molybdenum reclaimed materials through alloy steel external LF-VD. The technology comprises the following main procedures that the high nickel and molybdenum reclaimed materials are subjected to sort management and marking according to contained components and the component contents; the adding quantity of the high nickel and molybdenum reclaimed materials is limited according to the requirements for the capacity, the temperature raising and reducing speeds and the smelting period of the external LF-VD; and the adding varieties and the adding proportion of the high nickel and molybdenum reclaimed materials in the first step are calculated and determined according to target chemical components of smelting alloy steel, and the influence, generated after adding, of fluctuation of other element components in molten steel needs to be considered when the varieties and the proportion of the added high nickel and molybdenum reclaimed materials are determined. According to the technology for consuming the high nickel and molybdenum reclaimed materials, the recovery rate of nickel and molybdenum in the reclaimed materials can be increased, and the adjusting accuracy of the element components of the molten steel can be improved.