The invention relates to a method for recycling waste lithium cobalt oxide lithium ion battery. The method is characterized in that valuable components in the waste lithium ion battery are completely recycled by integrating the processes of crushing by a punch press, magnetic separation, eddy current selection, anaerobic atmospheric roasting, temperature-variable filtering and the like, and products with the relatively high additional values, such as elemental crude cobalt, lithium carbonate, graphite, copper, aluminum, iron, and plastics are obtained. Manners of crushing by a punch press, magnetic separation, eddy current selection and the like are adopted for performing material separation, so that the original physical properties of materials are kept. Meanwhile, positive powder and negative powder of an electrode material are cooperatively treated, the negative graphite material is effectively utilized, the in-situ preparation of a resource can be realized, and the waste lithium ion battery can be relatively completely recycled. The anaerobic atmospheric roasting is adopted, so that the reaction condition is relatively loose, the loss of a graphite material is reduced, the cost is saved, the technological flow is simplified, and the industrial application practice can be facilitated.