First, the copper-lead anode mud and the tellurium-depleted solution are mixed to form a slurry, which is subjected to pre-leaching at 80 to 90°C. After stirring at constant temperature, the slurry is fed into an autoclave. Then, oxygen is introduced into the autoclave to raise the pressure to 0.8 MPa for oxygen pressure leaching. The reaction lasts for 4 to 7 hours to fully dissolve the metals. After the reaction, the slurry is depressurized and cooled, and the pressure leach solution and pressure leach residue are separated by pressure filtration. The pressure leach residue is sequentially subjected to bismuth removal and lead removal to eliminate impurities: bismuth is removed by hydrochloric acid leaching; for lead removal, EDTA disodium complexing agent is added to dissolve the lead. The impurity-free solid residue is returned to the alloying process for utilization. Meanwhile, the pressure leach solution is treated by reduction and tellurium precipitation: iron powder is added at 90 to 95°C for reduction, causing tellurium to precipitate and separate as copper telluride residue, and copper sulfate is recovered from the filtrate.