The invention relates to a method for extracting rare earth and aluminum from ion adsorption type rare earth ores. The method includes the steps that (1), ore leaching is performed, wherein an ore leaching agent is added for in-situ ore leaching or pond leaching, and rare earth ore leaching liquid with the rare earth concentration higher than 0.02% is obtained; (2), precipitation is performed, wherein solid and liquid separation is performed after a precipitation agent is added into the rare earth ore leaching liquid for precipitation, and precipitated filter liquor and mixed precipitate containing rare earth and aluminum are obtained; (3), calcination is performed, wherein the mixed precipitate containing rare earth and aluminum is calcinated, and calcinated products containing rare earth oxide and alpha-aluminum oxide are obtained; and (4), leaching out is performed, wherein solid and liquid separation is performed after a chlorination leaching agent is added into the calcinated products containing rare earth oxide and alpha-aluminum oxide for leaching out, chlorinated rare earth leaching-out liquid and filter residues containing alpha-aluminum oxide are obtained, rare earth oxide is extracted from the chlorinated rare earth leaching-out liquid, and aluminum oxide fine products are extracted from the filter residues containing alpha-aluminum oxide. The method is simple in technology, precipitation is directly performed without impurity removal, and by means of the dissolution property difference of the calcinated products in an acid environment, the rare earth and the aluminum can be separated and recycled.