Abstract: The valuable metals such as nickel and cobalt are included in Ni-MH battery. In order to achieve a high leaching rate of Ni and Co with lowest leaching rate of rare earth, the key factors such as the amount of oxidant, the ratio of liquid to solid and time of leaching of nickel and cobalt in HT hot-dip from waste Ni-MH battery negative electrode is studied based on the study of leaching experiment of positive electrode and with the fixed temperature and concentration of leaching solution. The desired results of the best leaching value of the respective factors, as well as the high leaching rate of nickel and cobalt and the low leaching rate of rare earth are achieved.