The invention provides a processing method of trivalent cobalt nickel oxide waste materials and waste cobalt nickel alloy, which comprises the following steps: firstly pulpifing trivalent cobalt nickel oxide waste materials by adding an acid solution with a hydrogen ion concentration of 1-2 mol / l, adding the cobalt nickel alloy waste materials under stirring, wherein the mass ratio of the alloy waste materials to the trivalent cobalt nickel oxide waste materials is 1:0.5-4, reacting at a temperature maintained at 80-99 DEG C, filtering, returning the filter residues to the above mentioned steps for leaching, performing chemical preliminary impurity removal and extraction deep purification impurity removal of the filtrate to obtain a high-concentration, pure cobalt nickel solution. The processing method can greatly reduce consumption of auxiliary materials, improve the leaching rate, shorten the reaction time, reduce the generation of toxic and harmful gas, and has great economic benefits and environment benefits.