The invention provides a comprehensive treatment method for red mud and copper slag. The method comprises the steps that 1, the red mud and the copper slag are mixed to obtain a mixed raw material of the red mud and the copper slag, then a reducing agent is added into the mixed raw material to be evenly mixed, and a mixture is obtained; 2, roasting is conducted; and 3, the mixture is crushed and milled after being cooled, magnetic separation is conducted, and finally metal iron power and tailings are obtained. Through the method, the problems that when the copper slag and the red mud are pelletized independently, pelletizing is difficult, iron particles can not be gathered due to fineness of the iron particles in the independent reduction process of the red mud and fayalite is difficult to restore in the independent reduction process of the copper slag are solved.