The invention discloses a method for separating vanadium-titanium magnetite to extract iron, vanadium and titanium, comprising the following steps of: magnetically selecting raw magnetite, that is, acquiring iron-vanadium concentrate and tail magnetite after performing magnetic selection on the vanadium-titanium magnetite; sorting titanium concentrate from the tail magnetite, that is, acquiring the titanium concentrate after performing floating selection on the obtained tail magnetite; roasting and magnetically selecting the titanium concentrate, that is, performing enriched-titanium impurity-removing magnetic selection after roasting the titanium concentrate; finely selecting the iron-vanadium concentrate, that is, performing the magnetic selection and fine section again on the iron-vanadium concentrate obtained from magnetic selection; reducing and smelting, that is, mixing the titanium concentrate obtained from the impurity-removing process with the iron concentrate according to the beneficiation yield, adding in a reducer and soda ash to perform reduced iron and vanadium smelting process; purifying vanadium slag, that is, removing the impurity of the vanadium slag obtained by reducing and smelting by using the acidic dipping to obtain the high-quality titanium slag product with the content of TiO2 larger than 92%; and extracting vanadium from pig iron, that is, performing vanadium extraction by converter blowing on the vanadium-containing pig iron obtained by reducing and smelting to obtain the semi-steel and vanadium slag. The method not only improves the utilization ratio of titanium, iron and vanadium but also obtains the high-titanium slag product with the content of TiO2 larger than 92% so as to widen the application field of titanium.