The invention discloses a method for recycling valuable metals from copper smelting and converting furnace slag. The method comprises the following steps of: pouring slag melt of a copper pyrometallurgical thermal state converting furnace into a smelting furnace through a slag bag or a chute, and adding a reducing agent, copper concentrate and a slag former to the smelting furnace, and smelting toobtain cobalt ice copper melt and furnace slag melt; carrying out crushing, ore grinding and magnetic separation on the cobalt ice copper solid to obtain cobalt concentrate with relatively high cobalt content and copper concentrate with low cobalt content and high copper content; and feeding the copper concentrate with low cobalt content and high copper content into a copper smelting furnace of acopper smelting factory, recycling copper from the copper concentrate with low cobalt content and high copper content by using an existing copper smelting technology for producing copper products, and further enriching the cobalt therein into the converting furnace slag, and thus, forming the recycling of the copper and cobalt. The smelting temperature is low; the energy consumption is low; the metal recovery rate is high; the obtained cobalt concentrate has fine particle size, high cobalt content and low silicon content; the subsequent processing of the products is easy; and the copper concentrate can also be smelted and processed while the valuable metals in the copper smelting and converting furnace slag are recycled.