A method for efficiently recovering a platinum group element comprises melting copper-iron scrap containing a platinum group element, forming the melt into two liquid phases, a molten copper phase containing at least one rare metal selected from the group consisting of Nd, Pr, and Dy and a molten iron phase having a carbon concentration of at least 1 mass %, with the carbon contained in the molten iron phase being derived from carbon contained in the melt, separating the two liquid phases, recovering the molten copper phase, and separating and recovering from the molten copper phase a platinum group element dissolved therein. The copper-iron scrap may contain a rare metal, or a member containing a rare metal may be added to the melt with a preferred total concentration of rare metals in the melt being at least 1 mass %.