The invention relates to a novel reclamation method of electroplating sludge, belonging to the technical field of chemical and environmental science. The method takes the electroplating sludge as raw material, right amount of iron source is supplemented into the raw material, agricultural waste rice hulls treated by activating are added into the raw material, the reclamation for the electroplating sludge can be realized under the conditions of mild water heat, ventilation and proper alkaline condition, and porous loaded type ferrite new material is obtained. The novel reclamation method is energy-saving and high in efficiency, and can realize regenerating cyclic utilization of solid waste; the obtained porous loaded type ferrite new material is high in stability, difficult in dissolution of heavy metal ions and free from secondary pollution, and can be used for efficiently removing mercury ion in water; furthermore, the porous loaded type ferrite new material has good magnetism, thus being convenient to recover, separate and recycle, and achieving the aim of controlling waste by waste. The process route is high in efficiency, simple, mild and low in energy consumption, and does not easily generate secondary pollution; and the needed device is simple, convenient to operate, easy in control of conditions and low in production cost.