The invention discloses a method for preparing 
cobalt-substituted prealloying 
powder from regenerated 
metal. The method comprises the process steps: compounding raw materials, electrolyzing at a 
room temperature, crushing, screening, detecting and packaging; using the regenerated 
metal, such as recycled 
synthetic diamond waste 
powder accelerant, and the like, as a main 
raw material; supplementing a suitable amount of 
metal cobalt and metal iron to an 
anode basket together; and rinsing, purifying in vacuum after the room-temperature 
electrolysis step in the process steps and reducing 
hydrogen at 400 DEG C to 650 DEG C. More than 10 percent of particles in a final product have a 
sponge appearance, and an 
electrolyte used in the room-temperature 
electrolysis step in the process steps can be recycled. The invention has the advantages: 1, the production cost is lower than that of a chemical 
coprecipitation method by more than 50 percent, and the product quality is stable; 2, the 
powder appearances comprises the 
sponge appearance so as to have a large specific surface area; 3, the powder can be applied to 
laser bonding; 4, the strength is high, and the anti-abrasion performance is good; and 5, the 
sintering temperature is low, and the range is wide. The method is suitable for being adopted by industrial and mining plants producing the 
cobalt-substituted prealloying powder.