The invention discloses a treatment method of chemical nickel phosphor plating waste liquid, and relates to the comprehensive recovery and utilization field of chemical plating waste liquid. Under the condition of not adding any catalysts such as Pt salt and the like, and without external heating, the method utilizes sodium hydroxide dissolution, heat produced in the process of neutralization reaction and local high temperatures between liquid-solid interfaces, high pH value, and NaOH, and is induced by crystal nucleus provided by Ni2, therefore, the waste liquid is impelled to carry out self decomposition, and Ni-P alloy solid particles are generated. Under the action of the self decomposition of the Ni-P alloy solid particles, the waster liquid is decomposed quickly and completely, nickel is transformed into Ni-P alloy and then settled and separated out. More than 96 percent of nitrogen is transformed into ammonia, and phosphor, residual nitrogen, and majorities of organic acid are transformed into magnesium salt and calcium salt compound fertilizer. After the recycled nickel and phosphor resources are subjected to comprehensive recovery treatment, the nickel and the nitrogen contained in the waste liquid reach the national first-level discharge standard, and the phosphor and COD reach the national third-level discharge standard.