A method for recycling metal in a waste LiMn1-x-yNixCoyO2 battery and preparing LiMn1-x-yNixCoyO2 comprises the steps that a waste lithium ion battery is discharged and dismantled, or positive electrode leftover materials and positive electrode fragments are collected, and waste positive plates are obtained; waste LiMn1-x-yNixCoyO2 powder is obtained through the calcinations, water dissolution and the filtration of the waste positive plates; the waste LiMn1-x-yNixCoyO2 powder and potassium pyrosulfate are mixed according to a certain proportion and calcinated, the calcinated products are leached by water, a potassium carbonate solution is added into the solution, then the filtration is carried out, the proportion of Li, Ni, Co and Mn in filter residues is adjusted by supplying carbonate, ball-milling, compressing and the calcinating are carried out on the Li, the Ni, the Co and the Mn, and LiMn1-x-yNixCoyO2 positive materials are regained. Composition adjustment is carried out on filtrate with sulfuric acid, and potassium hydrogen sulfate is obtained after the crystallization treatment is carried out.