An embodiment of the invention discloses a wastewater treatment method. The wastewater treatment method includes: regulating the pH of wastewater to 5-10, adding an ozone catalyst to perform ozone aeration, using the magnetic separation technology to separate the wastewater and the ozone catalyst after 5-90 minutes of reaction, and filtering the separated wastewater, wherein the ozone catalyst is a carbon nanomaterial loaded with magnetic nanoparticles and catalyzing active components, the magnetic nanoparticles are nanoparticles with ferromagnetism or paramagnetism, and the catalyzing active components are one or more of transition metal and transition metal oxide; the adding amount of ozone catalyst is 0.001-1g/L according to the total volume of the wastewater. By the wastewater treatment method, the powdery ozone catalyst can be separated from the wastewater so as to recycle the catalyst.